SALON: How big is the Fed balance sheet, $3 trillion?
GRAYSON: $3.5 trillion. We’ve had a government takeover of the bond market. Stealth socialism’s been created. Government simply ends up owning more and more and more. If government had taken over the steel industry, maybe it would have been more noticeable. They’ve taken over the financing of housing industry as well, with a desired result. The result is now, finally, particularly in areas that were hard-hit, like mine in Central Florida, housing is ticking up again. So the Fed did in essence create an economic baseline that has led to something along the lines of 50,000-100,000 jobs created a month, setting a foundation for recovery for the U.S. economy.
Later on in the interview he claims to “scare the crap” out of Republicans:
I said, “You claim you want to improve your image among Hispanics, put up or shut up. If you vote for this, it’s not much money, and you show you have a minimal concern for Hispanics; and if you vote against it, you don’t.” And they rolled their eyes, they said Grayson doesn’t understand, this would rob Peter to pay Paul. But when push came to shove, they accepted the amendment, they wouldn’t allow a roll call vote on it. They didn’t want to have their people vote against Spanish-language housing counseling. They didn’t do it because I made pals with them. I scared the crap out of them!