The crowning stated purpose of the U.S. Constitution is "To secure the Blessings of Liberty to Posterity."
Running up debts that our own generation cannot possibly repay does violence to that supreme purpose.
In other words, it's fundamentally unconstitutional, as unconstitutional as something can possibly be.
We are robbing our posterity of their God-given, unalienable right to government by consent.
We're making slaves out of our own grandchidren.
A shameful inheritance to leave behind, especially when you consider the extreme price our forebears paid to leave us a heritage of liberty.
"There are two ways to conquer and enslave a nation. One is by the sword and the other is by debt."
-- John Adams, 1826
"The principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."
-- Thomas Jefferson, letter to John Taylor, 1816
"[With the decline of society] begins, indeed, the bellum omnium in omnia [war of all against all], which some philosophers observing to be so general in this world, have mistaken it for the natural, instead of the abusive state of man. And the fore horse of this frightful team is public debt. Taxation follows that, and in its train wretchedness and oppression."
-- Thomas Jefferson to Samuel Kercheval, 1816
"To preserve independence, we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude. If we run into such debts as that we must be taxed in our meat and in our drink, in our necessaries and our comforts, in our labors and our amusements, for our callings and our creeds, as the people of England are, our people, like them, must come to labor sixteen hours in the twenty-four, give the earnings of fifteen of these to the government for their debts and daily expenses, and the sixteenth being insufficient to afford us bread, we must live, as they now do, on oatmeal and potatoes, have no time to think, no means of calling the mismanagers to account, but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow-sufferers."
-- Thomas Jefferson, to Samuel Kercheval, 1816
"It is incumbent on every generation to pay its own debts as it goes."
-- Thomas Jefferson