That compares to the World War II era, when the Federal Reserve purchased only 10% of the government’s debt. Once a powerful recovery is under way, The Fed will have to begin unloading $3.4 trillion in Treasury bonds and mortgage-backed securities. This will crowd out private investment at a level never before remotely approached in a postwar-era recovery.
Saving and Gramm in WSJ: The Fed funded 55% of Obama’s debt
John C. Goodman is President of the Goodman Institute and Senior Fellow at The Independent Institute. His books include the soon-to-be-published updated edition of Priceless: Curing the Healthcare Crisis, the widely acclaimed A Better Choice: Healthcare Solutions for America, and New Way to Care: Social Protections that Put Families First. The Wall Street Journal and National Journal, among other media, have called him the “Father of Health Savings Accounts.”
0 Comments