Spending

"When people find they can vote themselves money, that will herald the end of the republic", Ben Franklin. While this fact is just dawning on the general public, the politicians are already there especially those who are the big spenders. The few who see the problem with spending will be locked out because they will not be reelected. In time the spenders will have super majorities in both houses and a president cannot afford to veto a bill that gives benefits to the people. As the economy slows and revenues decline more and more money will be created by the Fed to meet the demands of the spenders. This will cause inflation to rise which in turn will hurt the poorest the most and they will required more handouts to keep them in line. Once the government is in this downward spiral the only way out is austerity which means cutting back on benefits and spending.