Or its just the chickens coming home to roost for decades of spending trillions and trillions of dollars we don't and never will have to pay back.
True. Too many free handouts to buy elections. The socialists have run out of other peoples money.
BUT....because they've run out of other peoples money, and progressiveism is all about total control of thought, speech, behavior, income, etc., they need a drop in population to keep that control and still have enough money to go around for those that are left.
That's why socialism has never worked. In the end, a lot of people have to die. Otherwise, everyone starves (which happens in the end anyway because none of those who are left want to work, either. They still want their EBT cards.)