Fed Virtually Funding the Entire US Deficit: Lindsey - US Business News - CNBC
Lindsey said that with the Fed purchasing at least $40 billion a
month in mortgage debt through QE3, “they are buying the entire
deficit.”
“I have no problem doing extraordinary things in extraordinary
times,” said Lindsey, a former White House economic advisor under former
president George W. Bush who now runs his own consulting firm.
...“The Fed, maybe because it can't do otherwise, has told the
Congress: 'We're going to buy your bonds no matter what,'” Lindsey said.
“I think that's keeping the pressure off the president, off the
Congress.”
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