Was United States entry into World War I a wise decision? What were some of the arguments in favor of US entry? Opposed to US entry?

In my opinion, the decision by the Wilson administration to enter World War I was wise. The United States depended on trade with Britain and France, and the period just before the war saw the United States in a recession. From 1914–1918, the US economy did quite well as the nation produced war material. Farmers benefited as US grain exports increased. Germany rightfully claimed that US neutrality was a sham in that the US had more trade ties to the Entente than it did with the Central Powers. The United States entered the war in order to ensure that money loaned to the Allies was safe. Of course, that was not the reason given to the American people: this was to be a war to "make the world safe for democracy." However, democracy was never threatened in this war. When looked at in economic terms, the US entry into the war made perfect sense.
The arguments for US entry are many. The US needed to defend its right to trade, and Germany's use of unrestricted submarine warfare threatened that right. The US also needed to protect loans made to Britain and France. One could also argue that the US needed to show that it was willing to be a world power in order to be taken seriously; part of the reason behind the possible German–Mexican alliance in the Zimmerman note was that the German embassy did not take the United States' ability to project power seriously.
The arguments against US entry were many as well. Many European immigrants had split loyalties; many Irish did not want to help the British Empire and many who lived under the Russian Empire looked at the German army as a liberating force. There was concern that the war would distract from the Progressive domestic agenda, which it did. There were also concerns that the US would side with management over labor in order to ensure that the United States produced enough war materials. There was also the concern that the US military was unready to fight in European battles where sixty thousand casualties was considered normal. The last military conflict the US was in before this was the war against Emilio Aguinaldo after the Spanish–American War; World War I was on a larger scale. Finally, many said that the war was between squabbling European dynasties and that the US had no part to play in this. During the territorial battles of the Versailles Treaty negotiations, the arguments of the isolationists only grew louder.