Could the Fed Rescue US From the Debt Ceiling?

``The Fed currently owns about $1.63 trillion of Treasurys. It can sell these through its open market operations. All Fed income that exceeds the Fed's costs are remitted to the U.S. Treasury Department. Which means that the revenues from selling Treasurys could be used to fund government operations instead of borrowing. Sales of Treasurys by the Fed would not violate the debt ceiling laws, because the debt has already been issued. It is already counted against the debt ceiling. '' -- Of course this would just be outright printing by another name...