Republicans are being dishonest with the American public.

Scenario the Republicans are wont to avoid discussing:

How the interconnected banks that lend billions to each other daily, would sequentially fail as each bank's equity would be dramatically reduced from each of the failed banks. The domino effect is made more spectacular as people make a run on the bank, and the swift destruction of any lending ability by all banking institutions ends up crippling entire economies worldwide. Bank capital is gone and all the venture capitalists and corporations who thought both their own capital and investments were sound (under the most conservative of investment approaches), now find that their capital has nearly disappeared and their investments vastly diminished.

We saw this scenario in the 1929 crash, as Herbert Hoover chose to give markets freedom to resolve itself, only to find the nation in a depression that would last years beyond his failed re-election campaign. It was not until 1931, that Herbert Hoover chose to make an intervention, in an effort to garner votes for his re-election. We know what followed: Franklin Roosevelt's New Deal that brought Keynesian economics forward.

But the Republicans live in a protected perch from which they can hurl criticism without having to own up to their proposals. Republicans have chosen the populist direction, going where the wind blows, regardless of where that gust leads to. They are wont to avoid talking about the 1929 crash, because they would rather adopt a conflicted - but nonetheless populist - stance of free markets tethered to an outrage of the disparity of CEO pay in the free market. You can have either one or the other; ideology from the fringe does not accept a middle ground; the Conservative ideology has no room for compromise.

Just as bad, however, are those who understand little of what is going on, but are nonetheless filled with anger about what has and continues to transpire. It is as they say, shoot first and ask questions later, except that failure to ask questions first leads to devastating economic consequences. That is, in effect, what the Tea Party is asking for: replace everyone in government. I have few fears, but one of the fears I have, is what an unfettered Republican government would do. People celebrate Ronald Reagan, and while his rhetoric helped bring down the Berlin Wall, he nonetheless followed the same poor economic theory of trickle down economics, which to the contrary of what Republicans have told you, actually boosted federal debt faster than GDP growth. Worse, Reagan's era (resulting from free market advocates such as Alan Greenspan) was the beginning of the fast growing disparity between CEO pay and the average salary of Americans. We surely had wonderful expansion of GDP during the Reagan years, but we also sold out on federal debt and the middle class.

I am not an apologist for Democratic policies, either. Democrats are generally conflicted between Keynesian economics and the Libertarian call for smaller government, leaving us with a mixed bag of policies.

I blog too far off topic, but you get the point: Do not trust what Republicans are telling you, as they are afraid to speak about truth of history. If they accuse others of revisionism, look into their eyes and question whether they're lying or if they're naive.