Comment Re:And Joe Schmoe wont care. (Score 2) 364
There is a strong consensus among economists that a small amount of inflation is desirable. Deflation is disastrous for an economy as it becomes more advantageous to sit on cash instead of being productive. The massive expansion of the money supply since the economic collapse of 2008 was necessary, and inflation has remained low. Things would be much worse if the money supply had not been expanded. You can imagine the fact that inflation remained low despite these massive influxes of money was indicative of strong deflationary pressure. There was the threat of massive collapse of institutions due to assets fizzling into nothing, which effectively shrunk the money supply, and needed to be combated with new money from the Fed.
To claim that the government needs to operate "like the rest of us" is supreme ignorance. The federal government is not like an individual financially. For example debt owed by the government to the Federal Reserve is not analogous to a personal debt owned by a typical citizen. The financial rules and realities are different for governments as compared to individuals - and they should be.