The problem is QE can’t be unwound, politically. There’s a chance at ending Maobamacare, because people understand higher premiums, bad websites, losing doctors, etc.
But tapering QE, which is necessary for a stable money supply, will cause a depression. Whoever orders that will be a one-termer. Very few will understand why tapering is needed.
So what happens next will either happen slowly or quickly: higher interest rates and much higher taxes, defaulting state/local governments, loss of reserve currency status. This is the future. Period.
We are already in a depression. The government has changed the way unemployment, GDP, and other measurement statistics are calculated to keep the infamous “D” word from the lips of the public. But eventually, QE tapering will begin or no one will show up one day to buy the inflated stocks. One day the whole fairy tale will crash.