It doesn't work in practice. Governments just grow and grow endlessly borrowing and renegotiating debt w/o any intention to pay back. The cronysm problem can b

It doesn't work in practice. Governments just grow and grow endlessly borrowing and renegotiating debt w/o any intention to pay back. The cronysm problem can be fixed to some extent by limiting terms for every public office, ending career politicians. But don't expect Congress or any parliament to vote for such a measure.