Going into debt to keep a roof over your head and even make improvements to it can make sense, if you don't get idiotic about it. Ditto for basic transportation to get you to and from work or education to improve a skillset or income earning potential.
So much of what our government does is the equivalent of going into debt to purchase temporary pleasure at the whorehouse or casino and buy smokes, booze and bong hits. And a moron like Krugman can't tell the difference.
Well said, I may re-quote your post, if you don’t mind...
You nailed it.