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After their defeat at the polls, a crucial question confronts Democrats: Deep dish or thin crust? (AP/Caryn Rousseau)

If you and your friends order a medium pizza and there aren't enough slices to make everybody happy, someone will probably state the obvious:it would have been a good idea to order a large. Among Democrats looking back at Tuesday's results, though, there isn't much talk about a bigger pie.

Analysts hadbeen pointing out for several months that economic growth has not led to wage growth, and that the working classhasn't really experienced the recovery for themselves yet.As a result, the reasoning goes, they're frustrated with President Obama. Since the election, liberal Democrats have reprised this theme. Sen. Elizabeth Warren's supporters are arguing that her styleof egalitarianpopulism would have helped Democrats reach white, working-class voters. Harold Meyerson excoriatesDemocrats for failing ordinary Americans. "What, besides raising the minimum wage, do the Democrats propose to do about the shift in income from wages to profits, from labor to capital, from the 99 percent to the 1 percent?" he asked.

Anote of despair is audible in questions like these, a sense that while a rising tide might once havefloated all the boats, America's tide is going out. Maybe that despair is justified, but Christina and David Romer don't think so. Their recent paper argues that some developed economies recovery quickly, even from relatively serious financial crises. Ours did not, but thingsdidn't have to turn out the way they did. "Maybe the policy response was just bad," Christina Romersays. In other words, policymakers considereda menu of options, and they ordered amedium recovery with no toppings.

Her argument amounts to a serious critique of the Obama administration's economic policyfrom someone who was crucial in planning the response to the financial crisis. There was more the White House shouldhave done, even though Republicans in Congress insisted on austerity rather than fiscal stimulus.

To be sure, the policies considered in the paper, such as providing financial relief to underwater homeowners, would have both reduced inequality and contributed to growth. Sometimes,the size of the pie changes depending onhow it's sliced. The point is making sure there's plentyto go around.

Correction:Thursday's newsletter misspelled the name of a scholar at theUrban Institute. It is "Brian Elderbroom," not "Brian Elderbloom."Our sincere apologies, but don't misswhat he has to say about sentencing reform.

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Wonkblog: Next time, Democrats should just order a large pepperoni