Via Doug Ross:
The Saddest Chart in America (via Doug Ross) tells us that the line on the (St Louis Fed) chart above that resembles El Capitan is basically the amount of money being printed by America's first Cloward-Piven administration. You can see Bush-Clinton-Bush increased the money supply, but get a load of what Obama's got Bernanke up to- good grief, man.
Although US debt held by the public is now roughly equivalent to when Obama first took office, MASSIVE Obama deficit spending is simply being financed by the US Treasury bonds being sold to Bernanke's own Fed(!).
This means that we are just printing new money -backed by nothing- to 'pay' for 42 cents of each and every dollar the federal government is spending... while Dear Leader says 'WHAT debt crisis?' and Senate Dems submit a budget that puts the pedal-to-the-metal on spending, +62% over the next ten years...