Update: So you see what I mean. We have a terrible failure of demand — and Carly Fiorina thinks the key problem is excessive taxes on corporations (our effective rate is actually fairly low). Hey, if only we had low rates like Ireland, we could have 14.7 percent unemployment … oh well, never mind.

Meanwhile, Eric Schmidt thinks the problem is a shortage of workers in some high-skill fields. As Dean Baker points out, businesses were saying the same thing in 1935; so were the era’s Very Serious People.

Everything makes David Walker think of the need for entitlement reform. Everything makes George Will think of Ronald Reagan.

Sigh.

That was my reaction after the debate on This Week, which was actually taped Friday. We had what was supposed to be a spectrum of informed opinion, and which actually was a good spectrum of what passes for informed opinion. And what we got … well, watch it. More comments after it has aired.