The Fed position on health transfers makes sense.   It is consistent with that of the previous government.

Alas, if only they were consistent in making and keeping to tough decisions.

So far, they have seemed to demonstrate that the world is full of free lunches.   It is nice to be able to "do" good things in the world - but reality has a hard bite to it.   Debts run up today for operational items - will have to serviced (and hopefully paid back) in the future.

Enough of the passing of the buck.   If you want more of something you have to be willing to stop something else.