Good that you recognize that the Fed could buy longer term debt, it is something Greenspan recently expressed skepticism about here: <a href="http://www.msnbc.msn.com/id/38487969/ns/meet_the_press-transcriptsWhy">http://www.msnbc.msn.com/id/38487969/ns/meet_the_press-transcriptsWhy</a> does the treasury even need to issue debt and other than to satisfy a law that prevents them from running an overdraft at the fed?