It's only money ...

Whether the national debt or household debt, the major concern about its existence should be the "redistribution of income" resulting from that debt.  With household debt, it's easy to recognize the transfer of wealth that occurs --- who benefits, who loses.  If a household doesn't mind paying 20% more (e.g., principle + interest) for the things they buy, then debt really isn't an issue.

With the national debt, the winners and losers aren't quite so transparent, but the same type of "redistribution of income" occurs between winners/losers.  Who might these two groups be?  Who benefits? Who loses out?

                                                                     Source:  Google Images

$$$ = $$$

Even if we could balance the federal budget going forward (i.e., revenue = spending), our national debt would continue to automatically rise due to the interest on that debt. Currently, interest on the U.S. national debt is the third largest component of government spending, following national defense spending.  Why so high?  Well, consider the amount of interest associated with a $17.5 trillion debt, which is rising automatically as well.

Conclusion:
To balance the budget, revenue must equal spending + additional interest on the expanding debt.