Plenty of blame to go around

Krugman is right, of course, the Fed can and should (and legally must) do more. The Republicans are hopeless; Obama and the Dems (willfully?) helpless. High unemployment means lost output big time, as in: We are poorer than we need be. But it is especially bad for low-wage and minority workers, and for new grads, whose lifetime earnings will be substantially less than they otherwise would be. All for the sake of....?!