Going back to the basic math and history tenants of my post--the reason behind their bankruptcy, and why they'll be bankrupt again. And again. And again.
Not to mention no civilization in known history has ever permanently solved its financial woes by raising taxes. If you're having financial woes, it's likely because you're bleeding out due to unwise spending, counting the chickens before the eggs have hatched.
Typically in civilizations, continually increasing the financial burden of the people leads to one of two conclusions: The eventual complete dissolving of the civilization, or civil war/emigration.
Good point. The spending binge doesn't just end at the US Federal level, the states jumped on the free-money bandwagon too. The state I'm in, increased it's spending by 10X over the last decade. It's far from the 3-5% growth that you'd expect. The breakdown of the system will not be pretty.