In the last decade, the worst economic moves have been made when one party had control over the presidency, the House, and the Senate:
- Bush tax cuts - responsible for a large part of our deficit
- Stimulus bill - an unfocused
mixture of reasonable spending and money-down-the-hole projects
- Obamacare - a too-big answer to a real problem
That worries me because I recall what the Republicans did last time they held the triple crown. We can't afford more Bush-type tax cuts, but I don't trust newly elected Republicans to see it that way. Many Republican candidates are promising major tax cuts already.
Although the Republicans have been stalwarts on balancing increased spending with revenue (or revenue gimmicks), we've seen before how quickly they abandon all that good sense when they direct the deficit spending. As painful as gridlock and obstruction may be, at least there is one good result: less spending and no big tax cuts.
To prevent one-party domination, I'll be voting for a Democratic president and a Democratic senator, even if I kind of like the Republican. We need elected officials who will block the stupidity of a thundering herd of partisans. In 2009, it was a herd of Democrats and the Senate blocked some of their excesses. In 2013, it's likely to be Republicans, so we'll need as Democratic a Senate as possible, and a Democratic president as insurance if the Senate fails.
Update 1/31/12. Read how I reevaluate after a weak SOTU address.