Why We're Screwed

The Republicans plan to campaign this fall against the economy. Even if they agreed with Democratic proposals to help the economy, it is in their best interest to delay, dilute, or prevent any palliative action. Disclaimer: if the party positions were reversed the results would be identical.

Even among economists, there is not unanimity about the right course, but it wouldn't matter if there were because partisanship would doom it.

Examining their actions, I have come to the conclusion that members of congress use the following prioritization: self, party, personal ideology, constituency, nation. Pretty much backwards.

The truth is that the bank bailouts were almost certainly necessary (if you think the economy is bad now, imagine it on top of a banking system collapse). The stimulus spending was about half of what most economists thought appropriate, but further stimulus spending is effectively impossible.

Regardless of political policy, the economy was going to suck for years. And it will for several more. The health care was, I believe, well intended, but I don't think it solved the systemic problem.

Oh, and I've read a headline that says one out of five Americans, in spite of all evidence to the contrary, believe that Obama is a Muslim. What are the chances that they're only irrational about that one question?