In it, but not of it. TPM DC

Republicans: Job, Economic Growth The Result Of GOP Victories (VIDEO)

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Dreier's not the first to attempt this leap. Earlier this month, Senate Minority Whip Jon Kyl (R-AZ) attributed soaring corporate profits in 2010 to the passage of the GOP-friendly tax cut compromise at the very end of last year.

"Some of the results... I suspect, are coming from the fact that we extended tax rates that the president did not want to extend, but was willing to do so at the end of the year last year," he told Bloomberg's Al Hunt.

It's a theory of economic growth that requires assuming the existence of a time machine. But it doesn't have to be true to become the conventional wisdom.