I only slightly disagree with you, you said:
“There will be inflation but not hyperinflation. The rate will be controlled to the maximum the public will bear. The trick is control, but that is the goal”
I think that that assessment is spot on. I don’t disagree at all that the goal will be maximum sustainable inflation, but then there are the black swans. The problem with the megalomaniacs who think that they can control everything and every variable is that history has shown that they cannot. The best laid plans of mice and men, and all.
-——The best laid plans of mice and men, and all.-——
That can not be denied.
The focus seems to be on the deficit and spending. The real problem is the debt.
No amount of deficit spending reduction will reduce the existing debt. There can not be adequate real growth to eliminate the debt. The solution is to devalue the currency and the resultant inflation will increase real revenues at the existing rates of taxation. The combined devaluation and inflated marginal taxes compounded will eliminate the debt..