Debt is debt, regardless of the reason it is incurred or the color of the fruit it bears. But I do agree that there is a difference be "specific" debt and the "continual" debt we have now.
I have no condemnation of Hamilton; his ideals were of a different time, and that was the point of my post.
I have to say some unpleasant things about him. As the leader of the Federalists, he was one of the most important people working to form the US Constitutional government. He was an author of many of the Federalist Papers, and it is pretty obvious without his efforts, much of what did occur, would not have occurred.
However, Hamilton pooh poohed the concerns of the Anti-Federalists, and if you look at the Anti-Federalist papers, virtually everything they worried about came to pass exactly as they had expressed their concern, and completely contrary to Hamilton's dismissal of them.
All of the predictions of a draconian and out of control Federal Government turned out to be true. In many respects, Hamilton was dead wrong, and his opponents turned out to be dead right.