Printing unlimited money has a political advantage as well-- not only does the Fed profit from it, but the government, and more specifically, politicians profit

Printing unlimited money has a political advantage as well-- not only does the Fed profit from it, but the government, and more specifically, politicians profit from it. A good example is Obama's "stimulus" which was a big old pork package, underwritten by the Fed that he got to pretend was "taking action" to "improve the economy" / "create jobs". It was a complete failure by even its own promises, but that has not hurt Obama's re-election chances, because people don't hold politicians accountable for damaging the economy. And this goes for Bush, Clinton, Bush 1 and Reagan -- all of whom took at least some actions that damaged the economy.