Increased spending with little or no real economic growth leads to the devaluation of our currency which will ultimately leads to inflation.[/quote]
This is what we got under Bush and Obama (thanks largely to the Federal Reserve). What we need is deflation so that we can reset our economy and put the brakes on the speculative excesses that drive up prices (but not wages, because those are not “investments” that will benefit the investors). We’ve experienced a gross misallocation of resources, and the resulting price/cost inflation (outside of wages) has eroded the purchasing power of millions of Americans and millions (billions?) of working people and fixed-income recipients around the world.
