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Romney's Fiscal Plan Still Lacks Detail

Even these ideas, though, have been bogged down in a deadlocked Congress that has refused to reach an agreement on how to avoid the so-called fiscal cliff.

In May, Bank of America Merrill Lynch (BAC - Get Report) expressed little confidence in Congress as it questioned the legislative body's ability to make decisions on the expiring Bush tax cuts, payroll tax, the AMT and critical spending cuts.

Romney's comments resonate with many American voters who would be opposed to a third round of monetary stimulus, but they ignore the fact that fiscal policy has been hung up by a deeply divisive Congress with the House of Representatives (Republican controlled) and Senate (Democratic controlled).

So while many may cheer Romney's criticism of more Fed easing, voters would be wise to consider that intentional inaction by Congress has seemingly forced the central bank's hand.

-- Written by Joe Deaux in New York.

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