Debt and The Economy

Here's something interesting to ponder. From the mid-1940's to 1980, government and public debt stayed relatively constant. The Dow during that same period went from about 150 to about 900, approximately a 600% increase in about 40 years. Starting in the early 80's both government and public debt started climbing dramatically and the Dow went from 900 to 14,000, a 1500% increase in 28 years.

If the economy's dramatic growth over the past 28 years was mostly driven by debt and not, as some would argue, productivity, what does this portent for the next 10 years?