(n) A fiscal scheme of a central government where the lack of fiscal responsibility leads to massive deficits funded by debt that can not be repaid with revenues collected. As the scheme becomes riskier to creditors, they demand higher interest rates on incremental debt. This forces the central government to avoid issuing more debt in favor of simply printing its own currency (i.e., quantitative easing) to continue its endless, irresponsible borrow-and-spend policy. Ultimately, the reckless spending policy and printing of currency leads to crippling inflation and insurmountable debt being passed on to future generations in an immoral 'we enjoy now, you pay later' massive heist.
The US government (specifically Congress) in coordination with the Federal Reserve have been running a quanzi scheme since the Federal Reserve's inception amassing to-date $15.4 trillion in national debt and $117.8 trillion in unfunded liabilities.
by CO_Soothsayer March 02, 2012