The states is a great country but I think it's political and financial sphere stinks to high heaven. If achieving 18 trillion dollars worth of debt that will never be paid back is a good thing why doesn't every nation do it? Why do you even pay tax dollars with this in mind, after all what's the difference between 18T and 36 when the numbers get this huge. Can you imagine the interest on that debt alone IF interest rates rise.
It will never end, it'll be debt and money printing to infinity and like I said it doesn't revive the real economy, it serves as a get out of jail free card for fat cat bankers and rich stock owners. That's what the USA has become: a corrupt oligarchy, home to bent corrupt politicians/bankers on the take, meanwhile the people who are actually working for a living are getting squeezed big time.
The deficit grew by almost a trillion last year and it shows no sign of abating. I have a hunch that interest rate rises will not happen but if they do it'll be very short lived. Like you said this is a nation built on QE. No one apart from Japan is serious about investing in Treasuries, this leads me to believe the Fed will carry on monetising the debt using QE and zero interest rates, the very definition of a Ponzi scheme. The problem arises when other nations with accounts in the black stop taking the bully seriously. (Edited on the news that the ECB have just launched another round of QE madness, US surely to follow later in the year)
The real US deficit:
http://davidstockmanscontracorner.co...-1-1-trillion/
And here no less than Mervyn King and Greenspan admit QE is useless:
http://www.zerohedge.com/news/2015-0...ntral-bank-hea
Finally this is where you're QE money ends up, hint, its not in Joe Six Pack's pocket:
http://www.zerohedge.com/news/2015-0...les-hit-record