The US debt is manageable unlike many countries. The reasons are simple; our debt is going down relative to our GDP, and our economy is on the mends. More people are buying homes and cars; that translates into more jobs for US factories, and tax revenues for all levels of government.
The fear tactics of the Tea Party/GOP are nothing but fear tactics without much basis. The top 10% owns 80% of the wealth. What that means is that inflation is controlled by the rich; they have investments and cash that they do not spend willy-nilly. Their spending is not outstripping supply. The US economy is being maintained by the middle class and the poor - which produces 70% of our economy.
More manufacturing are returning to the US, because of higher productivity, efficiency of production, and cheaper energy costs.
Even Apple computer is producing their MAC computers here in Silicon Valley and the US, and I'm sure more high tech companies will begin to produce their products at home.
The only countries with debt that will collapse are those countries whose economy cannot support their debt service are Greece and Spain. Their unemployment is in the 20%+ range, and they don't product much to export.