Marching to a Different Beat

I'm all for self expression and finding your own way, but the Republicans have gone off the charts in their goal of setting new standards for idiosyncrasy and slimeball politics.

Luckily I'm not alone in that belief. Here are key paragraphs out of an article in Slate by Daniel Gross. I had to include the headlines for this piece because they nail the message:

Economic Know-Nothingism
The GOP's nutso claim that government spending doesn't create jobs.

There are three options government can pursue when the economy goes south. First, the Fed can cut interest rates, buy up assets, and extend credit, all of which the central bank has already done. Second, Congress can cut taxes on businesses and consumers in the hope they will spend more. The first effort—last year's tax rebates—didn't have the intended effect since consumers used much of the windfall to pay down debt or save. The substantial tax cuts that will be part of the Obama stimulus package would likely have a similarly muted effect. Businesses and consumers, facing a tough credit environment and needing to repair their balance sheets, will likely use proceeds from the tax cuts to tide themselves over. The third option is for the government to directly purchase goods and services, to substitute the demand that consumers and businesses aren't providing.

The Washington remnant of the Republican Party—40 senators and 178 representatives—is all for Options 1 and 2, cheap money and tax cuts. But they're having great difficulty with Option 3. They have forgotten Richard Nixon's famous line that "we're all Keynesians now." To them, spending government funds to goose the economy is unacceptable, not just because of the possibility of poor execution —i.e., pork. No, many are rejecting it as a matter of principle. Even though several Republican governors are pleading for assistance in the form of federal spending, Washington Republicans are saying no.

...

There's plenty of legitimate argument over the stimulus—too much, too little, not fast enough, too fast, the proper mix of tax cuts and spending. Alan Blinder's op-ed in the Wall Street Journal is an excellent guide to some of the debates. But the Republicans in Washington aren't reading Blinder. And it's almost impossible for the Obama team, or anybody else, to engage them in serious discussions. Virtually all the prominent Republican economists who were associated with the Bush administration in any way have fled Washington for the private sector or academia. Today, the congressional Republicans are taking their advice from Joe the Plumber.