Question

why did classical economists oppose public debt​

Answer 1

Answer:

For the classical economists governments must be as prudent as households; they must balance budgets and refrain from burdensome debt accumulations. ... The classical theory denied that deficit spending added anything to production; indeed, it only diverted private savings from productive purposes.

Answer 2

For the classical economists governments must be as prudent as households; they must balance budgets and refrain from burdensome debt accumulations. ... The classical theory denied that deficit spending added anything to production; indeed, it only diverted private savings from productive purposes