Just to add one anecdotal data point, I've done that and so far(for about 1 year) I have not had any problems. I do squat, deadlift, bench press, press, pullups, and situps. I've worked my way up to 230lbs + bar in deadlift and 200lbs + bar in squat. I experience a little muscle soreness in the back but that is all. I still need to watch what I eat and walk to burn calories since I still need to lose a little weight.