Depends on how much of a student of history you are.  Jonathon Seidl brings up a graph put together by Donald Luskin that suggests, if we make the same mistakes right now, we could see the same outcome.

(Click for a larger image.)

The problem is, we appear to be indeed making all the same mistakes; giving everyone a pay cut (i.e. letting Bush tax cuts expire) and passing protectionist laws (i.e. pandering to unions). 

If the "Party of No" indeed makes huge gains and keeps the Democrats from enacting foolish legislation, it could keep this from happening.  "No" isn’t always a bad word.

Related posts:

  1. President Barack Obama vs. History
  2. (Recent) History Repeats Itself
  3. Are Southern Republi…
  4. Scrubbing Inconvenient History

Filed under: Economics

Like this post? Subscribe to my RSS feed and get loads more!