What restraint on government borrowing?

What immediate restraint is there on the government from borrowing too much money?  We know they like to finance their operations through debt beyond what's available in taxes, but why do they stop where they do?  Why not borrow even more?

I assume there is some sort of market force that puts the breaks on their ability to do this and does so in the short term (because we know they only care about the short term).

Can anybody clue me in? 

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My 2c

If the government increases its borrowing it raises the market interest rate which means the fed has to keep printing in order to keep the rates low. Thus, increased borrowing by the government should produce inflation (or a crowding out of investment if there were no central bank). 

Arthur thanks for the help.

Arthur thanks for the help. Next question: How do higher market interest rates or increased inflation work against the government's short term interests?

If heavy government

If heavy government borrowing raises interest rate (which happens when the supply of money is not inflated), it has a crowding out effect... loans become very expensive and the economy can enter a recession which dimishes the popularity of the government and its ability to tax. If the supply of money is inflated, there is no crowding out effect, but there is inflation which ultimately means the government is getting a cheaper interest rate equivalentely the government could get a higher interest rate and print itself some money to pay for it. This inflation is a tax on money holders.

Ultimately the government debt is limited for the same reason taxes are limited, to maintain a certain stability and popularity. Government borrowing impoverishes the population not only on the long term when the money has been wasted and the premium is collected by taxes but in the short run when the interest on the debt are paid out of money creation or taxes.

Disclaimer : IANAE, please mentally insert "I believe that", "My opinion is" and "My understanding is" in front of every sentence.