How to stop the GOP from hurting the economy?

Although the economy is showing some resilience, Soros predicts,

" I'm worried that the politics of the election are going to interfere and put a lid on this –because the Republicans don't want to face elections where Obama can claim to have sort of seen the economy recover. So they will continue to push for austerity, no new taxes, and therefore cutting of services, which will depress economic activity and employment."

Is this a legitimate fear? If so, how can Progressives prevent right-wing policies from depressing the economy?

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