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The economy can't function without debt. Every time we've paid off the debt, a massive recession followed.
Close but not quite. The economy can't function without MONEY, and in the US economy as with every other economy, money is created as debt. In paying back the nat'l debt we reduce the money supply. But it doesn't have to be this way...
Why shouldn't it be?
The state could issue money directly, bypassing the bond market. It's been done before but only ever when there's someone strong enough to fight the banks. The whole nat'l debt monetary infrastructure is the result of accepting a banking scam, that banks and not states crt money.
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