Saving and Gramm in WSJ: The Fed funded 55% of Obama’s debt

That compares to the World War II era, when the Federal Reserve purchased only 10% of the government’s debt. Once a powerful recovery is under way, The Fed will have to begin unloading $3.4 trillion in Treasury bonds and mortgage-backed securities. This will crowd out private investment at a level never before remotely approached in a postwar-era recovery.