Yes, that will happen.
So its more of the same - more spending, more debt, more printed money, higher inflation, higher taxes - until that can not be sustained.
And then it reaches its logical conclusion - collapse and de facto bankruptcy.
Bailouts, yes.
Bankruptcy never.
Bankruptcy would allow forthe renegotiation of union contracts.
Which is why it will never be allowed to happen.
That’s why some states don’t allow municipal bankruptcies.