"Back in the '70s, I used to expect the government to suffer a financial collapse at which time it would have to quit doing most of the things it's doing because it would run out of money. That isn't what has happened. Instead of  cutting spending it has printed more money and tried to increase taxes on various things.  Like many things historical, there's a precedent for this. There's a proverbial saying that "Rome wasn't built in a day," but it didn't collapse in a day either. Probably most of the Romans who lived as the Empire was collapsing didn't realize that was what was happening, but plenty of them realized they weren't living in the good old days." - Morton Fox from Bookmarklet