Some fear that inflating the nation’s debt away is the path of least resistance for political leaders who can’t make the hard choices on taxation and spending....
For those who detest inflation–and that’s most economists and policy makers–the bad news comes first. The paper says a review of the U.S. experience since World War II shows “eroding the debt through inflation is not farfetched.”"
Thursday, December 10, 2009
Paper Probes Fed Nightmare — Inflating Away U.S. Debt - Real Time Economics - WSJ: "