Let's see. You buy things you really don't need with money you don't have today but hope to have tomorrow. Then all of a sudden, for whatever reason, you not only don't have as much money as you did, you actually have less and you still owe for your previous debts. You can't pay them, so you borrow more money to pay back the debt plus whatever interest it accrued. A bit later the cycle repeats. You keep owing more and more money yet eventually you think you will get out of debt.
Will it work?
If it won't work for you what makes you think it will work for the government?
Our biggest economic problem as individuals and nations is that we depend too much on credit and take foolish risks with tomorrow's (purely hypothetical) income. Speaking through the pen of the Apostle Paul, God told us: Owe nothing to anyone except to love one another (Romans 12:8).
Of course it is impossible to live completely without credit, but like salt in our diet, a little bit is essential and too much can be deadly.