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Re: We were even so desperate to fix the economy that the government basically started cutting people checks. That's pretty much how Keynesian economics is sup
by tabtab 8y ago
Re: We were even so desperate to fix the economy that the government basically started cutting people checks.
That's pretty much how Keynesian economics is supposed to work: the gov't saves up during good times and distributes cash during bad times to get people to consume again. Otherwise, economies can get stuck in a circular rut where nobody is spending because they have no jobs, and there are no jobs because nobody is spending. (The problem is politicians don't bother to pay down debt during good times.)