MEDIAITE: In Their Panic, Dems Become Reckless Gamblers.

Prospect theory, a predictive model of economic behavior, stipulates that when a person begins to come to terms with increasingly likely losses, they become risk-takers. Losses sting, the theory asserts, more than gains reward. Thus, risk-seeking behavior increases as the acute pain of an imminent loss comes clearly into focus.

Wall Street Journal columnist James Taranto astutely cited prospect theory on Thursday in the wake of the unprecedented maneuver by Senate Democrats to change the rules of the Senate by a simple majority vote along party lines.

The long-considered but never invoked “nuclear option” was appealed to at a conspicuous time. The ground is collapsing out from under Democratic feet. In a panic, they are falling back on maneuvers which mitigate immediate pain and provide short-term gains, all the while acknowledging that the risks they are taking are high and the prospect of long-term advantage extremely low.

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