Krugman posted this little Venn diagram a few days ago:
Krugman posted it in relation to the slow, seemingly inevitable (yet completely avoidable, if Europe would act) collapse of the Euro, but it also describes the political and policy problems in the USA and much of the rest of the world as well - the only things that are politically feasible won't work, and the only things that actually have a chance of working aren't considered politically feasible.
So, instead of a massive fiscal stimulus funded by cheaper-than-free borrowing by the government - a policy that would actually have a chance of putting a dent in the US's ongoing unemployment crisis - we instead have the Republicans proposing ....
I'll give you a second to guess - what policy are the Republicans proposing, which doesn't actually have any chance of working?
You guessed it - more tax cuts! Let's be honest - when, at any time in the past 20 years, have the Republicans proposed anything other than more tax cuts as the cure for what ails America? Economic downturn? Tax cuts! Economic boom? Tax cuts! Terrorist attack? Tax cuts! (That last one was probably my favorite.)
Brilliant, guys, just brilliant. See above Venn diagram for how that's going to work out for everyone.