Yep. The fundamental problem at work here isn't one that can be layed at the feet of any particular politician, or even any group of politicians (Congress, not the President, passes budgets and spends money).

The fundamental problem here is the tragedy of the commons: people will do what benefits them in the short-term, even if that same action harms *everyone*, including themselves, in the long term.

*That* is what's to blame.