Problems with that are it takes foresight, which no one in finance or politics seems to have, and it would scare investors into the relization that people cannot indefinately spend more than they make.
As a result the financial markets would take a huge hit, but it likely would be no different the net hit we have seen since Oct ’07 and will continue to see.
You can’t inflate your way out of a bubble, but the FED seems to think so.
