I shake my head every time I hear someone say they vote Republican because the GOP is strong on the economy.
There is ample evidence, dating back to the late 1800s, to show that the GOP's economic record actually is dreadful. Author Kevin Phillips is an outstanding chronicler of this grim history.
But many Americans still take the myth of GOP economic strength with them into the voting booth. Based on polls that show Barack Obama and John McCain in a virtual dead heat going into the November election, many Americans continue to believe the myth--despite mounting evidence to the contrary.
The economic news can't get much worse as the Bush administration winds down:
* The government has bailed out mortgage giants Fannie Mae and Freddy Mac;
* On Wall Street, Merrell Lynch is being sold, and Lehman Brothers is headed for bankruptcy; and
* American auto executives want a massive loan program to help them shift to energy-efficient models.
The hits just keep on coming for the bumbling Bush economy. In Birmingham, Alabama, where I live, the homebuilding industry is in a nosedive. One industry insider calls the downturn "devastating." Another calls it a "fiasco."
My guess is that many of the folks in these struggling industries have voted Republican in the past. Will they vote that way come November?
