Not by the Bush administration–this is the Obama administration. There’s some change you can believe in!
Note that Obama’s plan calls for $800 billion in new spending (as a point of comparison, the New Deal cost, in total, $500 billion in today’s dollars) accompanied by $300 billion in tax cuts.
Without the Federal Reserve, plans like this would be impossible. You can’t just make an extra $500 billion appear out of nowhere, but that’s what Obama plans to do. Luckily for him, there are enough people who believe that you can have your cake and eat it too. And once the effects of all this inflation set in, they will, I am sure, be shocked.Published in