We have had this artificial, debt fueled GDP since about 2001. In the past 5 years, the national debt has gone from $10 trillion to $16 trillion and it is estimated it will be between $20 and $22 trillion by the end of Obama's second term. At 5% interest that means the interest costs on the debt would be at least $1 trillion or about 30% of the US budget.
The Fed has created a monstrous problem: When interest rates rise, the federal budget is wrecked and if the fed stops buying Treasury bonds, who will. Besides destroying 96% of the value of the dollar in the past 100 years, the Fed is now sustaining an unsustainable economy. Andrew Jackson and Ron Paul are correct. The Fed must be ended due to 100 years of mismanagement.