In the book "Founding Brothers: The Revolutionary Generation," author Joseph J. Ellis discusses the differing views on public debt, particularly highlighting the concerns of James Madison. Madison believes that public debt serves as a significant burden to society, particularly within a representative government structure. He argues that such debt can undermine the principles of governance by creating conflicts of interest between different factions within the populace.

Madison's perspective emphasizes that public debt can become a source of division and challenge the stability of a representative government. His caution against accumulating debt reflects a broader apprehension regarding fiscal responsibility and its implications for democracy. Ellis illustrates how these foundational ideas shaped the discussions among the founding fathers and continue to resonate in contemporary debates about government financing and accountability.