I believe a realistic solution is financial incentives for politicians, like how options are used to give executives and directors incentive. Tie politicians' pay increases to their region's average and median income, so if median income goes down, their pay goes down and vice versa. And tie it to the unemployment rate so they get paid more if unemployment declines and vice versa. And, amongst the most critical, tie it to budget surplus and deficit. The way it's designed, politicians have incentive to spend more than they should because the public continuously ask for more spending on things like education and medical services, and politicians don't face long-term consequences of overspending because excessive spending they do gets passed on to the next people elected.