When you're stuck in debt and in a low wage dead end job, would you enact full blown austerity measures on yourself, sell your house, your car, get rid of anything that costs money and live in a box? So you could pay pennies on your interest from your 7-11 job? No. You go take out a student loan, you increase your current debt, get a degree, and get a job where your revenues are to a healthy enough point to where your long term debt isn't a problem anymore.
You can't cut your way out of a depressed or recessed economy. The national debt, while a problem, is not the biggest problem we need to worry about right now, the thing we have to focus on is jobs. We need to invest in economic stimulation, social safety nets, and overall job creation. If we focus on that and start actually recovering revenues then the debt problem won't be this insurmountable thing. The debt is a long term problem. The slow economy is an immediate problem, and if we use spending to bring it back to health it won't matter in the long term whether it adds to the overall debt or not.
BTW, no one is getting "taxed the fuck out of", taxes are as low as they've been in decades. One of the largest contributors to our current debt was the Bush era tax cuts, which did practically nothing to stimulate the economy nor grow jobs, and the republican's staunch opposition to letting them expire was one of the things that made them most transparent. They don't actually care about reducing the deficit, they just want to defund the government and make sure all the rich people get richer.