It's a cycle, and it keeps happening because people are too stupid to read history. Everyone thinks they can "do it better" which is why, when you point out all the failed socialist states, the standard leftist retort is: "Well that wasn't real socialism!"
In the words of Alexander Tytler -
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.”
We're in the apathy stage now. Our debt is enormous, our social welfare programs are insolvent... we can't even run the goddamn Postal service without bleeding red ink. And we keep piling it on.
It's all going to go *poof*. Then the government will announce that it has a plan to save everyone, people will fall for it, become completely dependent on them (10s of millions already are) and we'll be thrust back into bondage under authoritarian rule.