Isn't the rising National Debt a win-win situation for us liberals?

This sarcastic proposal is frighteningly close to something proposed by one of Reagan's advisors (I forget who) who said that running a deficit makes it easier to cut social programs. That was one of the reason Reagan was willing to cut taxes so severely that it helped spark the huge deficits we've been saddled with ever since, deficits that only get around zero in the best of economic situations and are enormous in the worst of economic situations, rather than the general trend of reducing the national debt as a percentage of tax revenue over the course of the 35 years between WWII and Reagan's presidency.