Pretty much. Starve the tax power base via producing and consuming less. This ploy could work for a while until, in my humble opinion, a wealth tax is instituted. Government only represents the biggest voter base (takers including ALL government workers/contractors)and those with the means with which to buy influence. Everyone else......eat your peas.
The soviet system of this “closed” govt-taxbased-”private full time contractors” will eventually collapse of it’s own unsupportable weight.
The goal of the extra sovereign debt holders is quite again another thing. Those debt holders can be denied— by force if needed. Like the UK has been and the Euro is starting to be responded to. It is NOT our CAN to kick down the road or finance— and we can decide not to without anything other than a patriotic decision to stop this.