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Paul Krugman: The G.O.P.'s Existential Crisis

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We are not having a debt crisis. No, what we're having is a political crisis, born of the fact that one of our two great political parties has reached the end of a 30-year road. The modern Republican Party's grand, radical agenda lies in ruins -- but the party doesn't know how to deal with that failure, and it retains enough power to do immense damage as it strikes out in frustration.

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At www.nytimes.com

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