And they won't be right this time either. This election was the result of political ADD and 9 - 10 % unemployment. The 24 hour news cycle makes people expect overnight change. But the reality is no matter what branch of economics you espouse the invisible hand moves at it's own pace.
The Republicans need to remember these points. They were elected by an incredibly impatient electorate that expects instant results, even when those results aren't possible. So, if a split Congress and Democratic President are incapable of making unemployment disappear or at least go down appreciably in the next 2 years that same electorate is going to be angry again. And with a popular President having someone to point the finger at I wouldn't want to be a Republican who was elected this year with promises to change things.
Having said all that, I am done with this election. I hope things get better, I really do, but I doubt that the above scenario will having any more success at getting the invisible hand to hurry up.
"Society is like a stew, if you don't stir it up all the scum rises to the top." Edward Abbey
Mike Ruch
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