Definitely not. As a general rule, debt used to acquire income generating assets is good debt. Debt used to finance an education that will eventually land you a high paying job is good debt. Debt used to urchase your primary residence is a liability even though it was needed to purchase an appreciating asset. While not good debt, the debt used to purchase your primary residence or the car you use to commute to work is often necessary debt.
Debt used to finance a vacation or purchase things that are consumed (such as groceries) is not good debt. These debts may be needed when you are not in a position to pay cash for everything you consume, but the debt should be kept to a minimum and used responsibly. Credit card debt should be paid off in full every month, or as quickly as possible to minimize finance charges.
Since I am speaking in generalities, let me leave you with one more. Any debit used to support a lifestyle or maintain a status that is beyond your means to service is bad debt. You probably don't need the biggest house on the block in the most exclusive neighborhood. You don't need a luxury automobile to commute to work when a plain-vanilla, second-hand car will do the same job quite effectively. These things are status symbols and the debt used to acquire them could lead to a bankruptcy and/or foreclosure if you are unable to make the payments. I would put this debt in the category of bad debt.
