Can't---Stay---Away

Megan McArdle on the crises:

There is a very real possibility that in two or three years, America will be in worse shape than it is now--unemployment in the double digits, GDP down by same, corporate and government budgets peeling apart at the seams.

Really? You think? Sure looks like Republicans can't govern, doesn't it? Too bad you didn't admit this when people were warning the collapse was imminent. You just mocked them instead.

I will be curious to see whether the new armchair empiricists of the left see this as casting any doubt on their central theories, or whether they will simply argue the counterfactual.

This is not implementing Keynesian policies. This is yanking out the diseased cancer cells and hoping the patient will survive long enough to recover. This is triage, and nobody cares whose theories keep the economy alive, except the people who are trying to cover their asses.