This is literally the basis for growing government and the military to what it is today.
Without the limits on the FED to print money which the (partial) gold standard provided at the time, politicians could promise the moon and actually deliver on the promise.
Except that it was all a lie based on having the ability to counterfeit money.
Then they re-jiggered how they measured inflation to propagate the lie and presto, the sky was the limit.
But since economic law mirrors physical law, the lie was discovered (although very slowly) and here we are today...
...broke, busted and disgusted.
"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
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