Caveat emptor: what follows is a biased book review. The author Mike Lofgren (bio - see ref  below) is a very close friend of mine. I have been flogging this important new book, since I first read it in draft copy.
Mike Lofgren, a native of Akron Ohio, is a conservative of the now forgotten Republican old school. He is more at home with the likes of Robert Taft, Dwight Eisenhower, and Abraham Lincoln than right wing ideologues like Newt Gingrich or plutocratic highway robbers like Mitt Romney.
Ideologically disposed readers of Lofgren's aptly titled book may be tempted conclude he has flipped and joined the Democrats. To be sure, Lofgren is harder on Republicans than Democrats. Having served on the Republican staffs of the House and Senate Budget Committees, he was in a much better position to observe and understand their hijinks than those of the Democrats. So, it is not at all surprising that his book has more detail describing how the ideological Republican crazies created a political economy that is poisoning our culture and wrecking what used to be the greatest job engine in economic history. It would be a great mistake, however, to conclude that Mike is arguing Republicans are THE culprits. The thesis of this book is about how the Republicans and Democrats worked together to sell out the middle class.
Lofgren is a modest, unassuming individual, who at first glance would appear quite unlikely to write such a book. He never sought the klieg lights. Nor did he ever pal around with the gucci shoe crowd to lubricate his way through the revolving door into a high paying lobbying job on K Street. Lunch for Lofgren was not at the Prime Rib or Capitol Hill Club, but a simple sandwich in a brown bag. This modesty of life style hides a principled intellectual with the character to go where his observations and reasoning take him. Moreover, a pen in Lofgren's deft hands, when combined with his deep understanding of political history and his acid sense of humor, becomes a sharp, deeply penetrating harpoon aimed at the heart of his subject. In addition to harpooning the ravenous Republican killer whale, Mike harpoons the tired Democratic whale by demonstrating subtly, yet persuasively, how the growing "uselessness" of the Democrats evolved out of an enervating sense of being entitled to power.
Over time, that sense of entitlement insensibly changed Democrats into what we in the Pentagon would call ENABLERS of Republicans. The Democratic enablers unwittingly played a crucial role in the demolition of the American dream, not unlike that played by infiltration troops in blitzkrieg. Infiltration troops soften up the front by slipping through defenses to find or create holes and weak areas for the tanks to roar thru to reap chaos and destruction deep in the enemy's rear area. Only in this case, the rear area being ruined is the American middle class, and the flood of tanks is taken up by the flood money supplied by the oligarchs who feather their nests by buying Democrats as well as Republicans in one seamless auction.
Put bluntly, to protect a sense of hereditary entitlement to the power that accompanied the coattails of FDR and the New Deal, Democrats abandoned their heritage and moved to Wall Street, Big Pharma, Defense, etc., and in so doing, insensibly mutated into faux Republicans. If you doubt this, look at the enervating, quasi-neoliberal bloviating by the self-inflating Democratic Leadership Council (DLC) or the cynical triangulations and warmongerings of Messrs. Clinton and Obama. The abdication of traditional Democratic principles gave Republican crazies more room to get even crazier, and together the faux Republicans and the real crazy Republicans reinforced each other to create a rightward shift in the American political dynamic that unleashed the emergence of a new gilded age, together with the emergence of a legalized plutocracy that criminal Russian oligarchs would envy. And this mutation came about in a remarkably short time of 30 to 40 years.
In so doing, the Democrats sold out their most important constituency, i.e., John Q. Average American, and colluded in the historic swindle that brought the great American middle class to the brink of impoverishment and debt peonage, a condition some times referred to chillingly in the tone-deaf salons of Versailles on the Potomac as the "new normal."
If you think collusion is too strong a term, I would urge you to think about Bill Clinton's (the DLC's choice for president in the 1992 election) collusion with Republicans in 1999 to nullify of the Depression era Glass-Steagle Act -- one of monuments of reform in the New Deal. This nullification was one of the main deregulatory "initiatives" that unleashed the greedy excesses that led to the 2007-8 financial meltdown. When he left office, Bill Clinton, by the way, did not pick up his grips and retire to a modest house in Independence Missouri like Harry Truman; he chose instead to join the plutocratic elite, where he is now well on his way to becoming a card-carrying member of the one-tenth of one-percent club of the mega rich. The bottom line: the Democrats' sense of entitlement and the consequent corruption of their principles have been a necessary, if not sufficient, condition in the emergence of the current political-economy that is destroying what is left of the middle class in our good ole USA. The reader would make a great mistake if he or she allowed the hilariously disgusting Republican hijinks described by Lofgren to brand his book as an anti-Republican polemic written by a convert, and miss his main message.
Mike, of course, states clearly in his title that his subject is how the madness of the Republicans and the uselessness of the Democrats reinforced each other over the last 30 to 40 years to hose the American People. It is the degenerate nature of their symbiotic relationship that is his thesis and should be the Left's call to arms.
I do not count on this happening, however. The faux Republicans are far more likely to try to exploit the embarrassment of riches in Mike's book for their narrow short-term political advantage, in yet another demonstration of the hypocrisy and opportunism that are central pillars propping up their losing mentality.
In closing, I ask you to read this favorable review of The Party Is Over . Note, it appeared in Pat Buchanan's American Conservative magazine, not some Democratic rag trying to gain leverage in the coming Presidential election. That should be an example for the Left to emulate. A real question in my mind is whether any left-leaning counterparts to the American Conservative will use Mike Lofgren's call to arms to summon the curiosity and the courage to explore the ramifications of his subtler analysis of the "enablers" of decline.