Pay off the debt now, so that you aren't throwing thousands of dollars away in interest. Wouldn't you rather have that thousands of dollars in interest saved in your bank account for a rainy day, then going to the bank?
In other words, pay off the debt sooner, rather than later.
There are times when incurring debt is a good or necessary thing. Unexpected medical bills (borrowing from my personal experience) to saved a loved one's life. Borrowing money for college to ensure a higher earning potential in the future. Borrowing for a more secure, more reliable car so you can get to work on time.
But, again, the sooner you pay these off, the less money going to other people than your bank account.
Only one problem with the Dems. They won't pay off the debt, either. They fought the Republican Congress tooth and nail against a balanced budget amendment, spent money like crazy, and still fought us on the war on terror. They won't "save" money in a "rainy day" fund for us, they will spend it. And they certainly cried like they were pulling money out of their *own* darn pockets when President Bush wanted to give some back to the very people who earned it in the first place!
In saying that, are you not ignoring the time value of money in your own life? To call paying interest "throwing money away" implies that you do not know of a way to deploy money in ways that add value. Therefore you would not pay anything to have it today, as opposed to five years from now.
The concept of interest exists because hardly anyone shares your preference curve in this regard. Most people place a higher value on a dollar today than they do on a dollar five years away. The market rate of interest is a measure of how much more value people place on 'money now' vs 'money then.'