The state over promise and then steal (tax) from everyone in order to pay for said promises. Raise taxes once the debt gets too big and the “vicious circle” starts again. Now that the debt is getting out of hand they want to stop making payments which will definitely lead to higher taxes in the near future as well as lost benefits for those who need them. I live in California and I’m stacking sats because I not going to cross my fingers and hope that the state might have some surplus in the future to take care of me when I can’t work anymore. My wife works at an elementary school and I told her to not hold her breath either.