If a man on the verge of bankruptcy suddenly is extended a vast new line of credit, but still has no new income (in fact, he has taken a pay cut), then for a short period of time he can spend that borrowed money as if he has no cash problems. It only makes the eventual day of reckoning worse when it inevitably does come of course, but if he was fiscally responsible he wouldn't have been in that situation in the first place.

That is about the most direct analogy to our current (and previous, to be fair) government budgetary processes I can think of.