We have obtained Spitzer Space Telescope Infrared Spectrograph (IRS) 5.5-35 μm spectra of 59 main-sequence stars that possess IRAS 60 μm excess. The spectra of five objects possess spectral features that are well-modeled using micron-sized grains and silicates with crystalline mass fractions 0%-80%, consistent with T Tauri and Herbig AeBe stars. With the exception of η Crv, these objects are young with ages ≤50 Myr. Our fits require the presence of a cool blackbody continuum, T_gr = 80-200 K, in addition to hot, amorphous, and crystalline silicates, T_gr = 290-600 K, suggesting that multiple parent body belts are present in some debris disks, analogous to the asteroid and Kuiper belts in our solar system. The spectra for the majority of objects are featureless, suggesting that the emitting grains probably have radii a > 10 μm. We have modeled the excess continua using a continuous disk with a uniform surface density distribution, expected if Poynting-Robertson and stellar wind drag are the dominant grain removal processes, and using a single-temperature blackbody, expected if the dust is located in a narrow ring around the star. The IRS spectra of many objects are better modeled with a single-temperature blackbody, suggesting that the disks possess inner holes. The distribution of grain temperatures, based on our blackbody fits, peaks at T_gr = 110-120 K. Since the timescale for ice sublimation of micron-sized grains with T_gr > 110 K is a fraction of a Myr, the lack of warmer material may be explained if the grains are icy. If planets dynamically clear the central portions of debris disks, then the frequency of planets around other stars is probably high. We estimate that the majority of debris disk systems possess parent body masses, M_PB < 1 M_⊕. The low inferred parent body masses suggest that planet formation is an efficient process.