Found this on the ZeroHedge blog a few minutes ago. It's an interesting read to say the least for those of you interested in the Macro Economy.

Readers may recall that Ron Paul once surprised everyone with a seemingly very elegant proposal to bring the debt ceiling wrangle to a close. If you're all so worried about the federal deficit and the debt ceiling, so Paul asked, then why doesn't the treasury simply cancel the treasury bonds held by the Fed? After all, the Fed is a government organization as well, so it could well be argued that the government literally owes the money toitself. He even introduced a bill which if adopted, would have led to the cancellation of $1.6 trillion in federal debt held by the Fed.
Read the article in full: http://www.zerohedge.com/news/2012-1...overnment-debt