With the US government forced to answer to its citizens, it is unlikely to resort to inflationary debt financing. In fact, about $4.5 trillion of US federal debt is held by domestic investors, including retirees, pension funds, financial institutions, and insurance companies – groups whose considerable political clout ensures that no administration would risk allowing inflation to spin out of control.
由于美国政府必须要回应公民的呼声，它也不太可能寻求通胀借债融资的手段。事实上，大约4.5万亿的美国联邦债务都由本地投资者持有，包括退休人士、养老基金，金融机构和保险公司——这些团体较大的政治影响力确保没有政府冒让通胀失控的风险。