Mick Mulvaney: “It is also the benefit of a totally accommodating Federal Reserve, who sets the price of interest through things like…”

“It is also the benefit of a totally accommodating Federal Reserve, who sets the price of interest through things like quantitative easing, which is nothing more than printing money. They have unnaturally depressed rates. Depressed interest rates is nothing more than the cost of money. One of the direct beneficiaries of that has been this body. It has been much easier for us to run of these huge deficits--which is the annual debt--and the overall debt, simply because it is essentially been free money for the last 6 or 7 years.”