So why is debt such at bad thing? Why all of a sudden is it bringing people and countries to their knees? It's not new, in fact it's been with us as long as money has. Debt can be a really great tool that allows us to buy more of a thing or to buy that thing much sooner than we could with only our cash. And there are some things we might not be able to buy at all without debt, like houses, roads, or college.