Is There a Catch?

If the fed maintains its current level of accommodation, including keeping interest rates near zero, it will have relatively few levers to pull in case a future slowdown calls for incremental stimulus. Some people think unlimited sums can be spent without negative consequences from the resulting increased deficits and debt. I'm not smart enough to prove it, but to me, these assumptions seem too good to be true. They have the appearance of a perpetual motion machine, or a credit card with no credit limit and no requirement to pay off the balance....