See the bust 1990, then boom, then bust 2000, then boom, then bust 2008, and now we are at the trend line. Let us just grow credit at the trendline and accept high unemployment as normal.
Doing otherwise means to me an attempt to create a more powerful government class at the expense of the private sector middle class. Now the Fed has entered the politics with their part in the mortgage bail out.
Pricing capital so low and quantitative easing are an easy substitute for economic structural reform. But it seems necessary as half the populous is greek/argentine so reform is impossible when having to overcome special interests is already near impossible that requires an educated and enlighted citizenry.