Can Debt Ever be a Good Thing?

Is there ever a time when debt can be a good thing?

We all hear that we should get rid of debt. Cut up all of your credit cards. Pay cash for everything. If you can't afford it, don't buy it.

Honestly, these are good statements--usually.

Once in a while, you hear about the exception that it's okay to borrow to buy a house. This might be a true statement, but the reasons people often use to support THIS suggestion is laughable, if it weren't for the fact that so many people believed it.