Largess

Tim is half right about this. There's no contradiction between a)

A democracy cannot exist as a permanent form of government. It can only exist until the majority discovers it can vote itself largess out of the public treasury.

And b)

It can only exist until the bureaucracy discovers it can vote itself largess out of the public treasury.

We have both situations. A (bureaucratic) political establishment offers other people's money to the electorate in order to gain power, in order then to help themselves to the contents of the treasury.