The votes are (mostly) counted. The Republicans have clearly and decisively won. But did the Democrats actually lose?
They lost the election, certainly. And many of them lost their jobs. But the point of legislating isn’t job security. It’s legislation. And on that count the members of the 111th Congress succeeded wildly, even historically.
Timothy Egan writes that Obama saved capitalism, and lost the mid-terms because of it:
For no matter your view of President Obama, he effectively saved capitalism. And for that, he paid a terrible political price.
Suppose you had $100,000 to invest on the day Barack Obama was inaugurated. Why bet on a liberal Democrat? Here’s why: the presidency of George W. Bush produced the worst stock market decline of any president in history. The net worth of American households collapsed as Bush slipped away. And if you needed a loan to buy a house or stay in business, private sector borrowing was dead when he handed over power.
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