Republicans despise Paul Krugman. -- which is really not surprising. The official position of the Republican Party on any issue is denial. They are truly living in the Twilight Zone. Since 2000, Krugman writes, Americans have witnessed:
the party’s broader slide into its own insular intellectual universe. Large segments of the G.O.P. reject climate science and even the theory of evolution, so why expect evidence to matter for the party’s economic views?
And so, everything is President Obama's fault.
Never mind the fact that the housing bubble, the debt explosion and the financial crisis took place on the watch of a conservative, free-market-praising president; it’s that Democrat in the White House now who gets the blame.
Republicans argue that it does not help their cause to analyze the reasons for their country's economic problems. What they seek is not solutions but power. And it's good politics to blame Obama for the crisis they caused. The strategy could work -- if the public's increasingly short memory gets shorter.
But good politics can be very bad policy. The truth is that we’re in this mess because we had too little regulation, not too much. And now one of our two major parties is determined to double down on the mistakes that caused the disaster.
It all makes sense if you live in your own insular universe.