I have become more and more interested lately in exactly what the founders of our Constitution would have thought of where our country has gone, and is going. In response to that interest I am currently reading the the Federalist Papers, and when finished with them will read the Anti-Federalist Papers.
While reading today I found the following quote from Alexander Hamilton in the 6th paper titled: Concerning Dangers from Dissensions Between the States.
The provinces of Holland, till they were overwhelmed in debts and taxes, took a leading and conspicuous part in the wars of Europe. They had furious contests with England for the dominion of the sea, and were among the most persevering and most implacable of the opponents of Louis XIV.
This is a clear indication of how our founding fathers viewed heavy loads of debt and taxes. They saw both as destructive to the nations which burdened themselves with high debt loads and the resulting high levels of taxation. They clearly linked high debt loads and the resulting high taxes with eating away a nation's economic, military, and political power. This raises the following question: How would our founding fathers see our national debt and the continuing increasing rates of deficit spending today? I think it's clearly evident they would see it as destructive to the US.