We are deeply in debt and must repay all of it eventually. It is ignorant to carry this debt monkey on our back for absolutely no reason whatsoever.
But it isn't for 'absolutely no reason whatsoever', the reason is that trying to pay off the debt will cause economic damage. As our government's obsession with 'cutting the deficit' and austerity did. Everyone suffered (we got Brexit as a result) and it just made the economy worse, delaying any recovery from the financial crash.
Austerity: a failed experiment on the people of Europe
Many governments in Europe, either of their own volition or at the behest of the international financial institutions, have adopted stringent austerity policies in response to the financial crisis. By contrast, the USA launched a financial stimulus. The ...
www.ncbi.nlm.nih.gov