In the past, global markets could trust that the mostly free market US economy would plow forward through various ups and downs. Because of this, they would absorb US dollars and be willing to buy US debt, meaning they were willing to subsidize US government spending. In a way, the USA got a free lunch. We were able to expand the amount of money in circulation, and the government was able to effectively spend it, without the people suffering immediate inflation, because other countries were willing to gobble up our money.

Those days are gone. Every penny the congress spends is going to come out of our hides in the form of income taxes, or the inflation tax. The congress is not, and can not be more charitable than the people with their own money. The congress, will not and can not allocate capital more efficiently than private tax payers. That means everything they do is going to fuck us over.

We don't need spending from congress, what we need is for them to do everything possible to get the government off the backs of the private sector. The private sector is not perfect, but is going to be better than the US congress and allocate capital more thoughtfully and efficiently no matter how you slice it. This goes the same with the Fed trying to "stimulate the economy". Once again, everything they do is going to come out of our hides in terms of the inflation tax. The sooner people realize that, the sooner all this insanity will end.