Dave Weigel’s got the stuff.
But when considering the sorry state of the GOP, it really is worth thinking back to the hubris on the right and panic on the left that followed the 2004 elections. The fact of the matter is just that these things can turn very quickly. I don’t know anyone who feels like they can make extremely confident predictions about the next eight years of American economic growth. But a lot of people seem to think they can make confident predictions about the future of politics. And yet we know that the ups-and-downs of the economy are a major influence on the course of politics. Meaning, among other things, that if Barack Obama’s economic recovery efforts wind up failing, the Republican Party’s fortunes could turn around with enormous speed.