Believe it or not, that would be a good thing. Right now, a lot of spending is tolerated simply because the average LIV thinks someone else is paying for it. If the real cost of these programs had to be paid in full in real time, the taxes that would be required would hit the vast majority of voters. THAT is how you get these programs ended - by making the voters feel the effect in their pocketbook.
Someone else will pay for it... the evil rich. Never underestimate the mobocracy lead by demagogues or the havoc they will cause.