When the state borrows money, it does it in order to finance public spendings. The purpose of borrowing is to facilitate the expansion of public spendings through the existence of a time difference between the moment of spending and the moment of payment. The relative lack of public constraints could lead the elected politicians, those who explicitely decide to spend, tax and borrow, to borrow even if the necessary conditions of a debt made on a basis of responsibility are not present. According to the classical theory, in the absence of such constraints the public debt will increase cumulatively, without being accompanied by compatible values of accumulated public assets and followed by the mortgage of the future incomes of that society’s productive members. But, if the decision makers act aware of the fact that an increase of debts implies a time lag between costs and spendings, then it appears a certain limit of the irresponsible behaviour, an important inhibitory effect. In this context, a delimitation between the classical theory and the keynesian theory can be made. The latter is the one that denies the fact that financing the debts would lead to an intertemporal lag between the achieved tasks and the cost of the spendings. Therefore, the keynesian theory, tied by the debt poverty, does nothing else than bringing the democracy into deficit.