Jon Cohn raises a sobering point:
But if the political future isn't clear to me, the policy future is. And it doesn't look bright. One way or another, federal spending both for the rest of 2011 and for 2012 is going to decline. Even in the highly unlikely event that Republicans were to cave completely, giving Obama everything he's requested in his budgets, valuable federal programs on which people depend, from home heating assistance to Pell Grants, would shrink starting next year. States, struggling to balance their own budgets, would make serious cutbacks of their own. And that's on top of the cuts already in the works.
I'm afraid we will lose jobs and economic growth will backslide, regardless of who wins. Hopefully, the pain won't be too severe. Hopefully, Keynes is wrong this time.
Have a nice day.