Something seems to be missing from all the debate going on around the stimulus package. That somethings is...If you are a failure at economic policy and the results of your failed policy are evident why should you have a place at the table? Why this simple fact is missing from the debate and the media reporting is a mystery. Is it that they are afraid to say it too loud? Do they not think that is clear that GOP economic policy is inherently suspect?
It's true, and it's a point that bears repeating over and over. When it comes to economic policy, now is the time when the Republican Party needs to be hiding in the john. This is a party that insisted that Bill Clinton's economic policies would be a disaster(whoops!), and then rallied enthusiastically behind George W. Bush's economic agenda with the results we are now having to face. To make matters worse, in recent weeks they have the audacity to question FDR's policies which proved correct and have embraced Hoover's which, again, were a spectacular failure.
Given all of this, why does the Republican Party believe it has any credibility on economic policy? It is a mystery and why aren't more people, especially Democrats shouting it from the rooftops? President Obama has hinted it at but, he too, should be on national TV and radio everyday driving the point home. Repeat and rinse. How can a group of supposedly intelligent people who have gotten everything spectacularly wrong for years still insist that their opinion carry any weight?
Everyone should be repeating the following phrase every hour on the hour.
Those who fail don't get to give lectures about how to succeed.
Update: Go read Steven Pearlstein