The End of the Republican party?

There seems to be almost universal accord among mainstream and liberal economists on the bailout plan (it's bad but necessary given political constraints). There are some really strong feelings about this . . .

Delong: Time to Shut the Republican party Down

Mark Kleiman:

Magnitudes: Total value of the bailout bill: $700 billion. Net cost to the taxpayer: unknown, but much less than that [$100 billion]. Drop in the value of U.S. stocks today when the bill failed to pass: $1.3 trillion.

That's not quite the right comparison. There is also a loss of $2.0 trillion or so in lost wages corresponding to the lost expected profits that are reflected in the stock market declines.

The House Republicans thus have a benefit-cost ratio of -30-to-1.