Every legitimate government has a fundamental obligation to protect its citizens. Beyond that, everything else is dependent upon the wealth of the nation. A nation that has debt exceeding its GDP is not wealthy. Being a politician is a really good gig that few want to give up. The easiest way to get re-elected is to give money away. Strick terms limits may not solve everything, but it may allow politicians to do what's right for the future of the country and remove the temptation to spend excessive amounts to garner votes for re-election.
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