Who decides things if not the entire voting population? There's nothing inherently wrong with your suggestion, if it's what everyone wants. We've been doing it

Who decides things if not the entire voting population? There's nothing inherently wrong with your suggestion, if it's what everyone wants. We've been doing it for a century, see the national debt. But people like their kids, so we restrain it. People don't want a society full of desperation, so we restrain it. People want a strong nation, so we restrain it. It's not a crazy hypothetical, it's how the system works. Humans just aren't basic consumption machines.