There is no amount of tax revenue that politicians can't spend (and if they can borrow, use as leverage for more borrowing).

There's a thesis expressed in this recent book (look for discussions of it) http://www.amazon.com/Never-Enough-Americas-Limitless-Welfar... that a or the fatal flaw (my term) of liberalism is that it has no limiting principle. I find it very hard to look at California and not agree.