It was not so long ago that Clinton delivered a balanced budget. A litlle bit of prosperity can go a long way to providing the resources the government needs to operate in a fiscally responsible manner.. In fact tax receipts have begun to rise again after the crash the crisis caused. Of course, prosperity needs to go beyond the very few... or they need to pay much, much, more back into the system.
Fed policy has been positive. Stimulus has worked. Low interest rates are good. Inflation is low. The dollar is just right, if not slightly over-valued. All this is beyond debate. The real issue is what comes next, when (not if) the global economy picks up steam. Will we have a surge of inflation? Will rates spike? Can the Fed soak up the liquidity without harm? I just don,t know... and neither does anybody else.
We have real problems as a country. Aging population, international competitivity. falling incomes and educational levels. Poverty. Regulation of derivatives and finanncial marketsd, in general. It is a travesty that our political discourse is centered around things like birth certificates, the gold standard, basic reproductive rights, anti-science, the illusion of free enterprise, the "right" to pack assault weapons... etc. These are the issues the Right uses to distract mostly under-educated, rural, southern, red-state people (the ones who receive transfer payments and pork from the more urban, educated, blue-states in the North and West - and then have the stones to complain about big government largesse) from the obscene transfer of wealth and loss of opportunity that have taken place over the last couple of decades.