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> Why don't they reduce spending?

Because the citizenry doesn't want that. Oh, sure, in abstract terms they do, but when it comes to any specific set of concrete cuts, they tend not to.

The citizenry reliably supports any cuts that don't affect them personally.

> The citizenry reliably supports any cuts that don't affect them personally.

That's not true, either; plenty of spending programs that directly effect < 50% of the population will face more than 50% opposition if cuts are proposed.

> Why don't they reduce spending?

There is strong selection pressure applied to politicians to get re-elected.

There is essentially no selection pressure for them to do a good job (as long as who to blame for the bad job is ambiguous, which it almost always is).

And pensions. Pensions funds have not been allowed to grow like expected, because of the artificially low interest rates. So to avoid the funds being emptied the solution is more tax. It will get worse.

By pensions you mean boomers. I'm prone, content to blame most of our current problems on the boomers.