Paul Krugman addresses the argument that people should vote for Romney to avoid “partisan gridlock”:
The starting point for many “vote for Romney or else” statements is the notion that a re-elected President Obama wouldn’t be able to accomplish anything in his second term. What this misses is the fact that he has already accomplished a great deal, in the form of health reform and financial reform — reforms that will go into effect if, and only if, he is re-elected.
But would Mr. Obama be able to negotiate a Grand Bargain on the budget? Probably not — but so what? America isn’t facing any kind of short-run fiscal crisis, except in the fevered imagination of a few Beltway insiders. If you’re worried about the long-run imbalance between spending and revenue, well, that’s an issue that will have to be resolved eventually, but not right away. Furthermore, I’d argue that any alleged Grand Bargain would be worthless as long as the G.O.P. remained as extreme as it is, because the next Republican president, following the lead of George W. Bush, would just squander the gains on tax cuts and unfunded wars.
So we shouldn’t worry about the ability of a re-elected Obama to get things done. On the other hand, it’s reasonable to worry that Republicans will do their best to make America ungovernable during a second Obama term. After all, they have been doing that ever since Mr. Obama took office.
During the first two years of Mr. Obama’s presidency, when Democrats controlled both houses of Congress, Republicans offered scorched-earth opposition to anything and everything he proposed. Among other things, they engaged in an unprecedented number of filibusters, turning the Senate — for the first time — into a chamber in which nothing can pass without 60 votes.
And, when Republicans took control of the House, they became even more extreme. The 2011 debt ceiling standoff was a first in American history: An opposition party declared itself willing to undermine the full faith and credit of the U.S. government, with incalculable economic effects, unless it got its way. And the looming fight over the “fiscal cliff” is more of the same. Once again, the G.O.P. is threatening to inflict large damage on the economy unless Mr. Obama gives it something — an extension of tax cuts for the wealthy — that it lacks the votes to pass through normal constitutional processes.
Would a Democratic Senate offer equally extreme opposition to a President Romney? No, it wouldn’t. So, yes, there is a case that “partisan gridlock” would be less damaging if Mr. Romney won.
But are we ready to become a country in which “Nice country you got here. Shame if something were to happen to it” becomes a winning political argument? I hope not. By all means, vote for Mr. Romney if you think he offers the better policies. But arguing for Mr. Romney on the grounds that he could get things done veers dangerously close to accepting protection-racket politics, which have no place in American life.
The people who know Romney best like him least. He’s losing big in Massachusetts. He’s losing big in Michigan. He is winning in Utah. But that’s only because the Mormon elders have been told by their god on the planet Kolob that they’d better deliver 100% of the Mormon vote to Romney or else.
The central feature of the Grand Bargain is not generational equity, it is current account protection for the asset positions of the 1%. If they fear inflation so little that they offer no meaningful pain on their parts, why in the hell would we put Social Security and Medicare under the knife? As long as we project printing greenbacks to the tune of a trillion dollars a year to fund wars and tax cuts, then let the presses roll.