Americans have always had savings & debts even before this was America. All you have to worry about in this life is that you are a saver and not a debtor. Savers are the masters, debtors are the slaves. There are always small instances in history where the debtor comes out ahead & the saver loses (in hyperinflationary situations), but after that has passed, their old habits will find them in the same situation they were in pre-hyperinflationary times. The habits of the saver will bring him ahead again eventually.
Reagan freed the humanity from communism and we should thank him for that. Clinton even brought the books to balance but Bush-II fucked it all up............royally! American needs a fiscal dictatorship now........got to take the hard pill.