The Fed Enables Congress' Out-of-Control Spending

In the past twelve months the federal government has increased the national debt held by the public by $697 billion while the total debt has grown by $820 billion. Since revenue collected by the government is at record highs, these enormous deficits must be due to spending. Among the many extraordinary measures taken by the Federal Reserve over the past five or so years are several that are serving to enable President Obama and Congress in continuing to spend with little, if any, restraint. If we hope to get spending under control, it would help if the Fed stopped encouraging so much wasteful spending.