It seems the Federal Reserve's latest proposed move to stimulate the economy and reduce unemployment isn't that popular with the GOP. On Wednesday, the party's leadership sent a letter to Federal Reserve Chair Ben Bernanke expressing concern that the plan to purchase an additional $600 billion worth of U.S. Treasury bonds might produce “hard-to-control, long-term inflation.” Nothing in the available economic data, however, even hints at an uptick in inflation.

Remember that Fiscal Commission (officially the National Commission on Fiscal Responsibility and Reform) President Obama created back in February, which he tasked with balancing the budget by 2015? Turns out solving the nation’s fiscal crisis isn’t quite as easy as it sounds. Yesterday, the Commission’s two co-chairs released a proposal of sorts, a draft of a plan that would bring down the deficit to 2 percent of GDP by 2014, and lower the national debt to 34 percent of GDP by 2040. The co-chairs trumpeted those figures, but the plan was greeted by almost universal ire, since it attacks sacred cows on both the left and the right. Anti-tax crusader Grover Norquist threatened that Republicans who supported the proposal would be breaking their “no tax” pledge. Richard Trumka, head of the AFL-CIO, said the plan “tells working Americans to ‘Drop Dead.’”