THE BLOG

How Left and Right Can Unite to Fight Unemployment

12/25/2013 03:56 pm ET | Updated Feb 24, 2014

There's been an intriguing development in this otherwise dreary political year: On big issues ranging from NSA spying and Syria to Farm Subsidies and Too-Big-To-Fail Banks, unlikely Tea Party/Progressive coalitions have shifted the balance of power in Washington. Still, on the issue that most animates Rand Paul's army of Tea Party acolytes -- the Fed's loose money policies known as Quantitative Easing (QE) -- there's been little or no cross-party love. While progressives have sought more Fed transparency , the left's preference has been to boost employment through Fed-fueled consumer demand.

This could change.

Recently, top Republican economist Martin Feldstein penned a Times op-ed laying out a game-plan for conservatives who want to stop QE: Drop the resistance to jobs-oriented fiscal policy. He's right. If Congress could pass an employment-focused, deficit-neutral fiscal plan, the Fed could end QE quickly.

Both left and right would have something to celebrate.