The gov't controls the Fed the way a junkie controls the pusher. To say there is real control there is disingenuous. The gov't is ALWAYS going to want to spend more. That's largely how those who get into political office stay there. If it wasn't, then why all the pork-barrel spending?
Well, the problem is, if the Fed can create money with an electronic entry and basically hand it to the gov't for expenditures, you are looking at one set of books while the gov't/Fed is using another set of books...
Enter the Theory of Relativity and curved (re: slippery) space. Gravity as a function of mass. Enter your own variables -- Till daddy takes the T-Bird away.
I can only interpret this "statement" such as it is to mean you approve of all federal spending no matter how wasteful and whether we can afford it or not. I'm also surmising you yourself are head or heels in credit card debt. And I don't own a T-Bird.
As is typical of you righties you assume too much. Of course I don't approve of "wasteful" spending. As a matter of fact I'm quite the cheapass sob. I've never paid interest on any of my credit cards and they're over 3K a month. But I do have a social conscience and waste is in the eyes of the beholder. I'm not going to try to express that I have the answers but there're alot of less than principled influence going around. As I've mentioned here before, check where the money comes to rest and what sort of prodding sent it on its way, theres alot of wiggle room between noble effort and reward. Revolving doors, campaign contributions its a moving target with more points in the flux than a Tokamak ball of plasma. I think you've got to get past the Fed with a wider angle lens on the perspective. I agree the Fed stinks and probably had Kennedy killed but our civilizations current arrangement and human nature as they're superimposed don't quite fit. You argue, I'll watch and I've got to mow my lawn.
The budgets were never balanced. Ever. Look into it or choose buy the Clinton PR. As for the Congress over-spending debacle, it's simple. The whole scheme started in 1913 with all money in the system having interest attached to it. There simply is never enough money in the system to repay the debt & interest. So the government is always motivated to keep growing the budget so that there is always an influx of "money" coming in and hence enough to keep re-paying interest. There is so much history behind the central banks and US presidents and senators battling them in the 1800s, that the objections brought up by the supporters of the Fed are plain silly. It's been done, argued over and outcomes seen on both sides. The founding fathers have aimed hard to avoid the central bank system of Britain, for key reasons. To allow one monopolistic entity control your nation's money is bad, very bad. To actually be happy & supportive about it, is plain idiocy.