It does not incur debt. Sweden or Denmark has been having debt to GDB ratio constantly declining.
I think social democracy can work but it’s hard and requires huge discipline from government and people. Also, it seems much easier to introduce in smaller countries.
Well, social democracy is also the welfare system, and it also requires high social trust, and it also incurs debt for future generations.
I may be wrong, but i think social democracy was only possible during the (not so brief) moment of the boomers.