The Federal Reserve is reportedly buying 61% of Treasury Department debt. Since there hasn't been a budget from the Democrat controlled Senate in more than three years, the government is growing more dependent on borrowing to finance itself. They're taking money (that they print) out of one pocket and putting it in the other. This is fiscal suicide.
Lack of leadership by our extravagant government filtered all the way down to the consumer level about ten years ago. People began using one credit card to pay the interest on what they had borrowed on another credit card. This exercise in futility led to an almost complete collapse in the economy and was part of the major financial meltdown in '08.
With the Fed's intercession in the debt market, the demand for Treasury bonds appears to be higher than it really is for the benefit of foreign creditors. Treasury has resorted to the Fed itself to make the purchases. The Fed makes up the shortfall and keeps long term interest rates artificially low. Credit card abusers must have learned from the Fed/Treasury experts.
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