Politicians have a nasty habit of spending more of other people’s money before they get it. Then the hunt for things and people to tax starts in earnest. Sin taxes, lotteries, gambling, gas tax, vaping tax, carbon tax……….
They never consider cutting the size of government as a solution as it would chip away at their power base. Big government is self perpetuating because of crony capitalism. Everyone who gets tax relief or revenue from the government is not going to vote for a pay cut.
Now that we have fewer net taxpayers than beneficiaries, the perfect storm is here, 22 trillion dollars in federal debt. Plus the interest on it.