Debt isn't always bad for filthy rich people or countries, watch Robert Kiyosaki how he use debt to make more money and protect his wealth.
Yea, you are right about debt for rich people, but about Kiyosaki, mahn..., everyone doesn't have the same grace; things don't usually work the same for everyone. Life is not just based on one principle or formula that can be applied and you arrive at the same solution that another person did. In life, one formula doesn't work for everyone.
@OP, look at all the countries who are in debt to other country, some of those debtor country doesn't have a bad economy at all, they are still powerful in other areas not just on one thing. There are still other things that contributes to making a nation powerfulpowerful. What do you have to say about a country where there's insecurity?