Well, it would be the political equivalent if the quasi-religious right – AKA Tea Party libertarians – don’t come to their senses.
Many of history’s greatest calamities have been the result of delusions – false perceptions of reality (“imperfect information” in the jargon of economics) coupled with a willful egotism that ignores the stakes of others and discounts their likely reactions. Thus, in 1861 the southern slave states thought they could secede from the union with impunity. In 1941 Hitler thought his Wehrmacht would quickly defeat the feckless Russians. And in 2011 the Tea Party Republicans think they can force their vision of minimal government, and “free markets” that have been “liberated” from an oppressive state, onto an electorate that strongly disagrees with their naïve and idealistic vision. In the process, these misguided crusaders would also trample on the concept of fairness – not only President Obama’s version but the bipartisan “Gang of Six” proposal as well.
We’re now at the “drop dead” date, and it could be an economic Armageddon for this country – nothing good can come from it – unless there is a last-minute religious conversion on the right. History provides few comforting precedents. The odds are in favor of a self-inflicted disaster. What have we come to?