The present generation has no idea how killing inflation can be. Unless you were around for the Carter years (Obama's model, it increasingly seems) you don't know what high inflation can do to the possibility of home ownership. You don't know how it always seems to exceed one's ability to get a pay increase. You don't get how it destroys investments.
Ronald Reagan suffered a brief, tough recession in order to reduce government spending, cut inflation and restore growth. Obama's budget assumes that massive spending and debt not only will revive the economy but also lead to such huge growth that we can afford a new public health care system and a major expansion of other government functions as well--and avoid passing the bill to our kids. Inflation is not going to be a problem, apparently.
