This may be the most important election of our lifetimes, conservative opinion leaders keep insisting. We stand on the precipice of socialism; we can either plunge over or be led gingerly back from the brink by … the governor who pioneered the individual mandate. Oh, and also his running mate, one of “only six Republicans who voted yes on the auto bailout and both bank bailout votes,” as Tim Carney reported yesterday.

In fairness, there are some important differences between Romney-Ryan and Obama-Biden on economic policy. Romney and Ryan at least see the need to downplay their past sins; for President Obama and Vice President Biden, bailouts and mandates are matters of principle and marks of pride.