It is a good idea to reduce our debt, though as the IMF now suggests there are more beneficial approaches that we could take to benefit the economy. It is easier and certainly less painful to reduce debt through growth. It is also worth pointing out that the debt has continued to grow since young Mr Osborne has been addressing it.

So in answer to your questions: yes, no, yes probably (refer back to the first article I posted for historical justification for that last point).