The libertarian position on government debt is generally opposed to excessive borrowing and deficit spending, as libertarians believe that it can lead to economic instability, inflation, and a burden on future generations.
Libertarians argue that government debt is ultimately funded by taxpayers and that excessive borrowing can lead to higher taxes and reduced economic growth. They believe that government spending should be limited to essential functions such as defense, law enforcement, and infrastructure, and that excessive spending on non-essential programs should be eliminated.
Many libertarians also argue that the Federal Reserve's policies of low interest rates and quantitative easing have contributed to the problem of government debt by enabling the government to borrow more easily and cheaply. Libertarians believe that the Federal Reserve should be reformed to promote sound monetary policy and to prevent excessive borrowing and inflation.
Overall, the libertarian position on government debt is to support fiscal responsibility and limited government spending. While there may be disagreements among libertarians on the specifics of how to address the problem of government debt, the general libertarian position is to promote a balanced budget and to reduce the burden of debt on future generations.