Yes, it would.
In the period spanning the final year of George W. Bush’s second term in the White House and President Obama’s tenure to date, the national debt has exploded from $9.1 trillion to nearly $13.2 trillion, reaching 90 percent of the gross domestic product….
[Consider] Jefferson’s statement in an 1816 letter to John Taylor of Caroline: “The principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”
Indeed.
See, Our national debt would horrify the Founders | Washington Examiner.