Paul Krugman has gotten nearly everything right since this economic crisis began. His predictions, that borrowing costs and inflation would stay low as long as we remain mired in the liquidity trap of high unemployment despite interest rates sitting at the zero lower bound, have proven true. It is unacceptable that Professor Krugman has no political power to protect us from the very serious people and their zombie idea of expansionary austerity. To remedy this, we demand that Krugman be given the power to implement economic policy, both monetary and fiscal, until the unemployment rate is below 7% and Krugman determines that the time has come for the federal funds rate to rise from zero, indicating an end to the liquidity trap.



