Create money

The controversy surrounding funding for social security, which was reignited by last night speech, exposed the long standing differences on how each party views government programs but that difference is fast disappearing. In the past republicans would rattle on about how it would be paid for but they have given up on that approach and have now joined in with the democrats in assuming that the government will just create the money needed. There are only a few foolish republicans who think that fiscal responsibility will get you reelected and they are dying out. Both parties now see the future as using the Fed to provide for all the programs old and new that they want to introduce to satisfy the desires of their constituents. While this has been a long standing trend it was accelerated during the pandemic and now has worked it way into main stream political thinking. In the future the congress will have little concern about balancing the budget and concentrate instead on introducing new programs designed to help everyone. Most everyone has given up on the old argument that you can't keep spending more than you are taking in because that is what has been happening for 50 years and there seems to be no reason to suggest that it can't keep on happening.