John B. Taylor: “All that is being asked here is that you take the laws that Congress has passed and make sure that there is an agency…”

I certainly don't want to--want my grandkids to see the crisis scenario, in which the interest rate on the debt will skyrocket abruptly because investors will no longer have confidence in our government's ability to pay its bills.

The Congress has laid out a strategy to reduce spending gradually over time. I think moving back off of that would be a mistake.

Simply stated, systems monitored by its own department members, no matter the claims of independent watchdog status, do not and will not work.

I think it would be a mistake based on the knowledge we have now about how central banks work, and how economies work, to change the dual mandate even when we are in recovery, I think it is the responsible and right thing to do.