To be robbed and betrayed by a fiendish underground conspiracy, or by the earthly agents of Satan, is at least a romantic sort of plight - it suggests at least a grand Hollywood-ready confrontation between good and evil - but to be coldly ripped off over and over again by a bunch of bloodless, second-rate schmoes, schmoes you chose, you elected, is not something anyone will take much pleasure in bragging about.
The party in power almost always unapologetically engages in deficit spending, while the other party argues passionately against the evils of debt and deficits.
Private equity firms aren't necessarily evil by definition. There are many stories of successful turnarounds fueled by private equity, often involving multiple floundering businesses that are rolled into a single entity, eliminating duplicative overhead.
