Patrick Toomey actually said...

I think when the Fed, indirectly through bank intermediaries, nevertheless directly is effectively purchasing the debt that we are issuing o...

One of the things that concerns me is that the strategy itself is designed, in part, to raise inflation expectations.

The market knows the difference between delaying a payment to the guys who cut the grass on the Mall, and failure to make a bond payment.

It seems to me that a Treasure Secretary would have to willfully choose to default on our bonds.