The Federal Reserve's function is to conjure money into existence. And it does so at the behest of politicians who require this money in order to pay for the programs, bubbles, and wars that they know we can't afford.

As the Fed inflates the money supply, it erodes the value of our citizens' real savings and retirement. And its artificial injections to boost one market (stocks) leads to bubbles in others (housing), which ultimately crash.

While the Fed exists, we will never live within our means. All other cuts are just rearranging the deck chairs.