The Fed's problem is that all the newly created "money" has gone unspent and unlent. To repeat an analogy I have used to explain why there is no inflation – it is as though Bernanke dropped $10 million in newly printed bills on your lawn – and you are so worried you hid them in the garage.
I'll say it again for the cheap seats. You not only need low taxes, but with the socialists running rampant in our government and our citizenry/voters, you will now need constitutional guarantees that the government will not:
1. Confiscate above a certain percentage of your income
2. Confiscate above a certain percentage of your wealth
Without these guarantees the producers will sit on the sidelines and watch with amusement what the parasites will do when the money runs out. Again, we're going off the cliff, but we're taking you with us.
(actually, this video is quite apropos as to how I see it, the producers resigning to their fate and the parasites not believing it can possibly be over)