Originally Posted by petegz28
Holy ****, you're so close.....
WHY? WHY is he part of the problem? How has he allowed the spending to continue?
The increase in the money supply means that is money to spend. That allows the govt to spend and to pay back with cheaper dollars. It allows them to avoid using taxes alone to fund the govt or there would have been a taxpayer revolution a looooong time ago. Unfortunately, it debauches our currency. It leads to a bubble which will bust even worse than last time. If the economy should pick up more, then we'd see double digit (perhaps worse inflation).
“Experience should teach us to be most on our guard to protect liberty when the Government’s purposes are beneficent. Men born to freedom are naturally alert to repel invasion of their liberty by evil-minded rulers. The greatest dangers to liberty lurk in insidious encroachment by men of zeal, well-meaning but without understanding.” — James Madison