No it wouldn't. You are under the impression that each person is prudent with their money, that each person has at least the same ability, at least the same income, at least the same fiscal situation througout their lives. Some people are incapable of planning for their future for any number of reasons.
No one is under the impression that everyone is prudent with their money. In fact, most aren't. Each person doesn't have the same ability either, nor the same income, as most are aware.
And yes, while these many are incapable of planning for their future for any number of reasons, including those above, why should the government enable this conduct off the backs of everyone, including those who are fiscally responsible? Simple fact, is the government should not enable these irresponsible types.
The same way the government misappropriates funds into systems like this, without current or past consequences, is the same reason people misappropriate their own personal funds, without current or past consequences. As the saying goes - "If it's not my money, fuck it". This is how the government operates, and enables behavior such as theirs through providing to it's recipients. It's a serious problem, even if you choose not to agree, it very well is the truth.
The government and the people who rely on it's monetary support, will soon find themselves up shit's creek, as this malignant problem worsens throughout time, and then becomes terminal. In fact, it's already terminal, we just haven't seen the entire scope of repercussions, inevitably bound to occur.
Look, for example at the numbers of people who see tax refunds as a windfall? Had they managed to work their situations out, they would have had their money all allong and earned more with it. This doesn't happen and it is up to government to ensure that these people are taken care of.
No, it's up to people to make sure they take care of themselves. Not to make sure they use others in taking care of themselves, by brokering the extortionistic deal of usery through government.