The fact that extremely smart people offer up diametrically opposed solutions to these problems with 100 percent certitude erodes my confidence that we really know what to do. There's a reasonable chance that we are modern analogues to
Theodoric of York, Medieval Barber (start at about the two-minute mark if you don't get the reference), and that policymakers 80 years from now will look at us with the same mix of sadness and disdain that we apply to the policymakers of the late 1920s, who were absolutely confident they were taking the proper steps to do what was best for the economy.
This is a financial collapse, and financial collapses usually take
a decade to work through, meaning we’re probably about halfway through this. I’m basically skeptical either party will be able to alter these numbers all that much. Governing during this time will generally be electorally catastrophic.