US Congressional Republicans are in truculent mood. Last week they were chiefly responsible for blocking agreement on the 2011 budget and, at time of writing, the US government stood poised to run out of money on April 8.

So what might the Grand Old Party do if it were to command a majority in the Senate as well as the House, and, as might happen in 18 months, were it to regain the White House? Steps have also been taken to overturn Dodd-Frank, approaching its first anniversary on the statute book.