The United States government can't seem to manage a balance budget, and quite frankly, doesn't seem to care, or to even make an honest effort to do so. This thus makes one think, that perhaps there are powerful forces that purposely do not want the United States to balance its budget, and would prefer that it continue its indebtedness. So then, the best way to ponder this question is to determine, what parties most greatly benefit from this current state of affairs.
First, the United States government, in order to create money, must sell treasury instruments, bonds, and other financial instruments to outside entities, such as foreign entities, as well as to domestic investors. Additionally, the United States government receives monetary funding from the Federal Reserve System, which is a consortium of banks that are actually independent of the federal government. All of these are necessary in order for the government to print money and to take care of its fiduciary duties, but as in all debts so created, that debt must be paid back and there is a time cost to that money so borrowed, of which that cost is expressed by the interest rate so charged, of which, as reported by thebalance.com, for fiscal year 2020, "The interest on the debt is $479 billion." To understand this better, recognize that the United States government, on behalf of its citizens, is so indebted that it must pay $479 billion just in interest on that debt; or in other words, this is the cost of purchasing things without having the ready money to pay for it at the time of that purchase, of which a fiscally sound government would not therefore have to budget $479 billion just to service the debt, without actually receiving any material goods or services in return.
So then, those that lend money to the United States government, benefit greatly from essentially following the very basic principle, that those that have money and then loan out that money at a particular interest rate, are essentially making money from money, without having to do anything of merit, to earn such. Further to the point, in principle, that which is the borrower is in hock to that which is the lender; signifying that the entity with the money, has an immense amount of influence over the other party that needs that money or access to money in order to sustain itself, and therefore can thereby exert a great deal of influence over governmental policies.
There are two basic ways for the government to balance its budget, of which these are not mutually exclusive; of which one is to raise the taxes upon the population, its corporations, as well as upon the duties of imports and the like, and the second is to reduce governmental expenditures for the military and other assorted budget items that are funded by the government. What is occurring at the present time is neither the budget is being reduced, nor are taxes being raised, but instead, powerful vested interests see that these are unaffected. This thus means that the richest of the rich, and the most powerful of the powerful, are beneficiaries on both sides of the equation, in which by virtue of the government having to borrow from them directly, or indirectly, they make that easy money; in addition, by not being fairly and appropriately taxed via our progressive tax system or through higher corporate taxes, or through higher capital gains taxes, they not only keep more of their money but are able to continue to augment and to grow that money.
So then, the primary beneficiaries of governmental deficits are the richest and most powerful, and the losers are the general population that are stuck carrying the weight of that debt, not only for the present generation, but of generations still to come.