The economy is finally showing some signs of stabilizing, and that is encouraging.

This can be a dangerous policy mix. The Treasury is issuing debt, and the Central Bank is buying it.

It gives the alarming impression that the U.S. one day might begin to meet its financial obligations by simply printing money.

I think a lot of us would question the efficacy or logic of it being passed through to the consumers, because it counts against the whole notion of the program.

But certainly we cannot allow ourselves to be in a situation where the debt continues to rise, that means more and more interest payments, which then swell the deficit, which leads to an unsustainable situation.

However, that has in some ways blurred the distinction of the independence between the administration, the executive branch, and the Federal Reserve and its unique independent role.

We are going to make two big fiscal policy decisions just this summer, talked about cap-and-trade briefly and then health care legislation.

So what matters is the trajectory. The path of the trajectory is really what kind of matters here in the long term; is that right?

What is the exit strategy of the Fed? And what kind of confidence do you have that you will be able to wind all this down when the moment comes?

But the targets will be the same. So the emission targets will be as aggressive.

The bill that is moving to the floor that is already out of the Commerce Committee on cap-and-trade auctions off 88 percent of the permits.