The U.S. government's current debt problem is perceived to be a once in a life time event by some, but governments have long been suffering from debt worries.

Take the Roman Empire which, in 55 BC, was already concerned about its public debt and the devaluing of its currency against silver. Note complaints about "public assistance" even back then.

It had a great many more years of decline before its demise, but the devaluation of the Roman currency seems to have played some part in the collapse of the period's largest empire.