Bulging Balance Sheet

In the past 3 years, the Federal Reserve’s balance sheet has expanded by $1.5 trillion yet nominal GDP has managed to rise by only $500 billion. Moreover, the U.S. public debt has exploded by about $5 trillion over that same time frame. This means that while the USA is 244 years old, over 1/3 of the national debt has been created in just the past 3 years.