It's exactly like a household budget. I make investments in my house which I am hoping give me a return, but other sorts of spending, like netflix (The comparison that the Guardian journalist used, not me) or eating out are for personal enjoyment that might enrich my life, but somewhere down the line might indirectly return to me if the company I work for secures a contract with that business but essentially that money has gone and I have no control over it. In my case i work in sales so the link might be even more direct I might sell to the business I have consumed from.
Governments face exactly the same spending choices. Some are infrastructure investments that provide a return, some like spending on consultants, spending on benefits, public sector salaries, extra police wages might flow back but some of it might be spent abroad, transferred home in the case of temporary migrants and disappear out of the country.
The fact is there is money coming in, and money coming out, too much of the latter over the former and there are massive negative consequences as we have seen in history. Countries can go bankrupt, as can people, it doesn't mean the end of the world but it means your credit rating goes down, borrowing becomes stupidly expensive and your ability to make best use of continued tax receipts is removed. Its selfish behaviour quite frankly putting the burden of your borrowing on following generations.
You really do believe in a magic money tree,..