Almost every small businessman knows that debt is part of being in business... I mean, when a company goes public and sells stock that is debt.

It is not debt. Not at all, no way no how. But is is a way for a business to raise money.

Your larger point about debt being a part of business and not the real problem, is totally on the money, pardon the pun. That is why the credit crisis of 2008 nearly destroyed the economy.

If the government had not stepped in many millions more jobs probably would have been lost and it might have taken decades to get to 7.8 % unemployment.