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Lets say the economy starts to crumble over the next 6 months and the unthinkable happens and Mitt Romney is elected President. If he is elected, it will mean Republicans retained control of the House and took over control of the Senate.

Here is what I think will happen. Romney and the Republicans will immediately find a way to stimulate the economy and cut taxes at the the same time. It will be back to deficits don't matter and more tax cuts for the rich. Further, they will start encouraging the Fed to take action to improve unemployment, instead of their current recommendation of doing nothing (or preferably sabotaging things). We can expect QE3 next year if Romney is elected. Of course, that will cause the economy to start growing rapidly. Of course, they will double down on tax cuts for the wealthy further ballooning the deficits (which, of course don't matter in their world when they are in power...) More on that in a bit
They will be able to crow "see Obama and Democrats are awful and Obama was the worst President in American history" and you know what? Many will buy it. They will contrast the economic performance and conclude that it was Obama's fault for the slow recovery after the recession. They will further reward Republicans in 2014 with more solid majorities in the House and Senate. Democrats would be very hard put to avoid that outcome.
Now more about the deficits. The economy will boom, but if the deficits balloon and they do nothing about them, it will cause big problems down the road. Combined with printing more money, such deficit spending (I am thinking $2 trillion deficits for several years) could actually lead to the kind of currency crisis that some deluded Republicans and economic crackpots are suggesting. Pretty scary, but in the meantime, Romney and the Republicans will be riding high.
So what does that say about our political system that a party could be handsomely rewarded for purposely sabotaging the American economy? Think about all they have done and not done to do this? They manufacture a debt crisis and look for reasons to not pass disaster relief without offsets. Of course, they want to cut back on unemployment benefits and food stamps to further hamstring the economy. What they are not doing is equally harmful. They wouldn't even consider further stimulating the economy through the American Jobs Act. Believe me, there is plenty more to say here but it can wait for another diary.
Here is what I think it says.
Our form of constitutional democracy in fundamentally flawed. The system of checks and balances (including odd things like the filibuster rule, which is not in the Constitution and is merely a Senate rule) can be used to destroy a President if they are also willing to damage the economy. They have used every trick, found every loophole to ruin the Obama administration all the while heaping a constant barrage of blame on him. They pass laws to defund parts of previously passed legislation, they refuse to confirm officials to agencies to prevent legislation from coming into effect, they purposely attach poison pill after poison bill to any legislation that might improve the economy (unless it was a complete giveaway like the alleged "Jobs Act" for small business. This was just a jelly donut for some Republican cronies and will produce next to no jobs...) If Romney wins it is proof positive that you can be rewarded for sabotaging the country. I doubt our founding fathers conceived of a situation where one party or group would damage the country to win. It also shows that you must have bipartisanship in order for our system to work, but there is no mechanism to enforce such cooperation. Unless they are held responsible for their actions by the electorate, there is no good political reason to cooperate. In our current environment, cooperation is the equivalent of treason by giving aid and succor to your enemy.
So what would be a better way? Of course, there is no current way to implement this, but moving to a parliamentary system without some nutty 60 vote filibuster rule in the Senate would solve many of these problems. It would ensure majority rule so that elections couldn't be undermined/undone through complete obstruction.
Regardless of the outcome of this election, working toward such a system can only help preserve democracy in the US.

Poll

Are the Republicans trying to sabotage the economy for political reasons?

91%21 votes
8%2 votes

| 23 votes | Vote | Results

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Comment Preferences

  •  It's not unthinkable (0+ / 0-)

    It's what's going to happen.

    All of the pieces are falling into place. Their long-term strategy of refusing to contracting spending to tank the economy has worked. The Republicans gained a shot of energy by crushing labor in Wisconsin, and will take that state in the general election. Voter suppression measures passed in swing states with little media attention. The Supreme Court is going to deliver the Republicans a huge victory in two weeks. European struggles will spill over and our growth will disappear right in time for November.

  •  I think, if romney wins, (1+ / 0-)
    Recommended by:
    Garrett

    mormon angels will descend from the heavens, trumpeted by, uh, other non-mormon angels, who will then break the seals containing the beast and the seas will boil and froth and other revelations imagery and then the wars will start. Pestilence and famine will engulf the world. Natural and man made disasters will wreck havoc upon the face of the earth even us atheists will start to question if there's a god, for a tiny second at least, while we watch the news people quietly count of the daily death estimates all while managing not to scream at the indignity of a world ripping itself apart. If Obama wins there probably wont be any mormon angels.

    Lo que separa la civilizacion de la anarquia son solo siete comidas.

    by psilocynic on Mon Jun 11, 2012 at 08:26:40 PM PDT

  •  A Parliamentary System Seems Far Superior to (0+ / 0-)

    ours for any number of reasons, but like every other good idea everyone between Canada and Mexico has, there's no discernible path to it.

    We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

    by Gooserock on Mon Jun 11, 2012 at 08:49:18 PM PDT

  •  There is no reason to believe QE3 will do (0+ / 0-)

    much. After all, we had QE1 and QE2 and effects were modest.

    •  QE3 combined with significant stimulus will cause (1+ / 0-)
      Recommended by:
      FG

      3+ percent economic growth barring some further more serious headwinds. Of course, it depends on the size of the stimulus, how fast it works, etc. Same with QE3. Of course, this is a lot of assumptions.
      Most likely Obama will be re-elected and there will be a different set of problems.

      •  Combined with stimulus, it will do smth. But so (0+ / 0-)

        will stimulus alone. I'm not saying there won't be any effect from QE but it's likely going to be 1% GDP or so. Multipliers for QE are quite low. The diary implied some sort of massive effect which is unrealistic.

        •  You are absolutely right. QE3 will have minimal (1+ / 0-)
          Recommended by:
          FG

          impact. As you point out, there is little multiplier. The stimulus would make a much bigger difference and I can see how you would draw the wrong conclusion from the diary. My bad.

          Regardless, I strongly suspect that Romney would push for both a big stimulus and QE3 (instead Reps are hammering on Bernanke to do nothing before the election, then they will flip to hammering him to do more after the election)

          •  I agree with the general idea that Republicans (0+ / 0-)

            will try to do smth to boost economy if Romney is elected. A lot of their opposition to stimulus and other measures is purely political. However, there are some Tea Party congressmen that may not vote for stimulus (unless it's pure tax cuts) even if it will be politically useful to Republicans. And tax cuts (especially those favored by Republicans) are barely stimulative and may in fact be counterproductive even in a short run. So in order to really boost the economy Republicans will have to pass some things that are favored by Dems and it's not clear if they will be willing or able to do that.

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