Just read Paul Krugman

So far he's been right 9 times out of 10 about the situation over the last few years...and he now shows exactly why you should never believe anything out of a Republican's or Tea Partier's mouth -- they lie about the facts to fit their fantasies.

http://krugman.blogs.nytimes.com/2011/09/27/bad-faith-economic-history/

I'm tired and have nothing to add to this.