The party of "No!"

Isn't it fun, watching the Senate Republicans fiddle while the nation burns? Doesn't it bring your high school history books alive? Déjà vu -- circa 1931 -- all over again.

I'm no economist. But to me, one thing seems obvious. Businesses and average Joes alike are paralyzed with fear. They can't understand what's happened economically, and they suspect that no one in charge has a clue either. Strong action by the government -- any action -- would attack that fear. Whether the action, from an economist's perspective, actually provides a direct stimulus to the economy is less important -- at this moment -- than its immediate psychological effect in stimulating confidence.

An increase in confidence -- from any source -- will result in freeing up credit and increasing consumer spending, breaking the looming spiral into deflation and depression.

Many Republicans claim to agree. But they are so obsessed with government funding of employment to construct all kinds of projects -- mass transit is just one small but obvious example -- that they're ready to scuttle -- or delay indefinitely -- any stimulus bill at all rather than permit government money to flow in directions they dislike.

The Republican leadership interprets "bipartisanship" to mean that only funding that's agreeable idealogically to both parties should be approved. As frustrated Democrats have reminded them, the GOP did lose the election, and lost it decisively. One issue at stake in the election was whether the nation should stick with Republican "trickle down" economics. That doctrine is no longer on the table.

Bipartisanship, under present conditions, means listening with open minds to Republican complaints about specific projects, and compromising when possible to remove truly non-stimulative spending from the pending bill. It does not mean re-enacting failed Republican economics.

Republican senators should remember history. They are in danger of once again tarring themselves as the party of Hoover -- a party that, in a moment of crisis, says "no" to everything not permitted by their unimaginative idealogy.