The race is not to the swift, nor the battle to the strong, neither yet bread to the wise, nor yet midterms to men of understanding. Or as I put it on the eve of another Republican Party sweep, politics determines who has the power, not who has the truth. Still, it’s not often that a party that is so wrong about so much does as well as Republicans did on Tuesday.

I’ll talk in a bit about some of the reasons that may have happened. But it’s important, first, to point out that the midterm results are no reason to think better of the Republican position on major issues. I suspect that some pundits will shade their analysis to reflect the new balance of power — for example, by once again pretending that Representative Paul Ryan’s budget proposals are good-faith attempts to put America’s fiscal house in order, rather than exercises in deception and double-talk. But Republican policy proposals deserve more critical scrutiny, not less, now that the party has more ability to impose its agenda.

So now is a good time to remember just how wrong the new rulers of Congress have been about, well, everything.

First, there’s economic policy. According to conservative dogma, which denounces any regulation of the sacred pursuit of profit, the financial crisis of 2008 — brought on by runaway financial institutions — shouldn’t have been possible. But Republicans chose not to rethink their views even slightly. They invented an imaginary history in which the government was somehow responsible for the irresponsibility of private lenders, while fighting any and all policies that might limit the damage. In 2009, when an ailing economy desperately needed aid, John Boehner, soon to become the speaker of the House, declared: “It’s time for government to tighten their belts.”