I tend to focus not so much the presumed protective functions of government, but its ability to raise CAPITAL via tax receipts as well as the selling of bonds.

The constitutions are corporate charters establishing such companies.

The pool of capital is refreshed, at least, annually.
Services are created to raise additional revenue i.e Social Security, the judiciary, etc.
The executives/trustees take a little off the top for themselves.
Liabilities are passed to the constitutors i.e. tax payers.

Companies and corporations ultimately descend from trust law.
The company titled 'government of the United States' has only had one year in its corporate existence where it was debt free and ran a surplus, 1834-35.
What matters is that it runs or operates. What matters is that it has participation from people. What matters is that it garners energy from people.

To some degree, deficits and surpluses of government are a distraction from seeing it as I've just described.