The optimistic view:
[T]he inadequacy of the administration’s initial economic plan has landed it — and the nation — in a political trap. More stimulus is desperately needed, but in the public’s eyes the failure of the initial program to deliver a convincing recovery has discredited government action to create jobs.Then there's the pessimistic view:
In short, welcome to 1938.
There is one big difference between today and the 1930s, however. Once there was a political party in America - the one that did the New Deal and the Great Society - that stood up a bit for the middle class and the poor. But Bill Clinton and Barack Obama have led the Democrats down a different path. Now the party stands for a slightly weaker version of the GOP's plutocracy protection service. And, seemingly, for getting its face bitch-slapped bright red at every possible juncture.We may have a long, hard slog of privation and national diminishment ahead of us. Democrats, who are merely disappointing, are taking the blame. Republicans, who offer nothing more than "you're not rich, screw you" - and who really are to blame - stand to regain power.
Fairness doesn't enter into it remotely. Or maybe, as David Michael Green says, this bitter outcome is just what we've earned by being repeatedly stupid.