Certainly B.O. will do as you say. However, just as there are laws of Physics that when people try to break these laws they break them, so to, there are laws of economics that can't be broken or they will break economies small and large eventually.
They can only borrow, spend and the fed buy up Treasury Bonds backed by nothing so long before people, institutions and other gov'ts stop proping our gov't up. The results will be far far worse than Greece or European countries' economic problems.