No, it's part of the checks and balances in the US system of government.
It's one thing to spend money, but for the government to borrow money will generally imply the commitment of generations of citizens to pay that money back, so it takes a second act of Congress to authorize that borrowing.
That kind of generational commitment is important enough that our representatives need to approve it.
The debt ceiling is merely the result of requiring democratic approval for borrowing.