Not sure I see the point of this . If Congress does more, then the Fed will likely do less. Sure, I think Congress and the Fed should definitely both be doing more, especially in the wake of a worsening unemployment situation and outright deflation, but what we really need is another trillion in QE. Even with deflation in the core rate and worsening unemployment, the Fed raised the discount rate. If a big package comes out of the Congress, it will raise the Federal Funds rate.
The problem is Ben "inflation-fighter-extraordinaire" Bernanke is ensconced at the Fed. He's going to ensure the Dems get f*ck!d next fall.
As I recall, Brad DeLong supported Ben Bernanke...
In Defense of the Conventional Wisdom
40 minutes ago