The article discusses the issue of the debt crisis that is currently one of the sources of political conflict that poses a threat to economic, political, and social stability in the United States and the world. The article examines to roots of this crisis. It pays particular attention to the important role of collateral in economic activities. It also shows the connection between the debt and value creation as the raison d’etre of economic activities. Finally, the article shows the way toward the resolution of the debt crisis. It argues that the only way to prevent debt crises in the future is to make our economy efficient, i. e. one that fully utilizes all available resources for creating new and increasingly more powerful levels of organization that is essential for value production.