Paul Krugman, in the continuing role of Cassandra:
Imagine if the Democrats, long-term, were to learn the Republican political lesson of strident opposition regardless of any merits. Wouldn't that be a great way to govern.
The tragedy here is that if voters do turn on Democrats, they will in effect be voting to make things even worse.
The resurgent Republicans have learned nothing from the economic crisis, except that doing everything they can to undermine Mr. Obama is a winning political strategy. Tax cuts and deregulation are still the alpha and omega of their economic vision.
And if they take one or both houses of Congress, complete policy paralysis — which will mean, among other things, a cutoff of desperately needed aid to the unemployed and a freeze on further help for state and local governments — is a given. The only question is whether we’ll have political chaos as well, with Republicans’ shutting down the government at some point over the next two years. And the odds are that we will.