Nick Rowe asks why isn't NGDP targeting a lefty thing?

Yglesias has been pushing it. MMTer Dan Kervick believes it's a ploy to let Obama off the hook. He calls it fadish. He just makes up stuff about QE1 and QE2 not working and then turns around and asserts that runaway inflation will hurt the vulnerable.

The Ur-troll of econoblogs is the one who goes on about inflation when we're facing deflation. My gas and rent is going up!!! The have to be brainless conservative dittoheads.

The Popular Front of NGDP targeting consists of "market monetarists" who don't believe in fiscal policy and Keynesians who do. The output gap is our fascist enemy.

Rightwingers want tax breaks to spur demand. Monetarists want cheaper credit distributed by the Federal Reserve to banks to lend out to businesses.

Leftwingers want the government to bypass banks and invest in infrastructure to create demand.

Or better yet, create a 21st century WPA to create jobs and add demand that way.

Tax breaks don't work well in my opinion and are too unequal in their impact on creating demand. Anything else will do. We need to close that output gap.