Is it a good idea from a fiscal standpoint to increase that by another 1.2, 1.3 trillion over the next 10 years?

the Fed's political independence is critical--it is critical and essential for safeguarding its commitment to price stability.

Are you concerned about these levels of deficits and debt? And is this a sustainable and prudent fiscal policy course?

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.

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.

We are beginning to create a new entitlement without really actually paying for it.

From being on Ways and Means for a number of year now, what ends up happening is we might pass a MedPAC recommendation or two and what we find out is Congress then takes that away because of political pressures and time.

I have a great concern that the administration and Congress have exploited the current economic crisis, and the fear and diverted attention of the American people, to justify rushing through a sweeping and possibly irreversible expansion of the federal government.

But that means our rates will then go up because people will leave Treasuries, yeah?