I'm close to where you are BigJohn. Never carried a balance on a credit card, won't buy things unless I have cash for them, the only outstanding non regular bill payment monthly is the house. I might borrow for cars, but if I do I pay it off within a year. My wife still has car and student loan payments, but all of her income goes to that right now while mine handles everything else.
The one thing I know I would not handle well is not feeling like I am in control of my finances and that I had lots of debt. I don't need much, or buy a lot of things, but for the most part when there is something I want I want to be able to buy it without worrying about how am I going to pay for it.
This is probably why I feel our Govt. should do the same.
Craig, are there any numbers out there you know of over recent years that compare out deficit increase vs. our net worth increase per year?