Never mind about mortgaging the future. By running up a monster deficit as it struggles to keep the economy growing, the Obama Administration is setting the stage for sharply higher taxes down the road.

Of course, it\'s not an absolute certainty. The easier option is even more quantitative easing — a euphemism for printing money, which is a dirty phrase economists never like to use. This would devalue the country\'s currency and sovereign debt, triggering a cycle of hyperinflation of the likes the U.S. has never seen.