<p>ultraguy, I agree with you. I was thinking of debt more broadly and over a longer term. Many in our parents’ generation would have laughed at the idea of paying the equivalent of a quarter-million dollars for their kids’ college education–and they certainly would not have entertained the idea of going into debt for it either. They also didn’t spend beyond their means to the level that people routinely do today, thanks to the easy availability of credit cards.</p>