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Fantastic point. I don't think enough people understand that Keynes doens't work if you are running a massive deficit all the time. In good times you _need_ t
by pragmatic 15y ago
Fantastic point.
I don't think enough people understand that Keynes doens't work if you are running a massive deficit all the time. In good times you _need_ to be solvent so that in bad times, extra gov't spending will actually have an effect.
The US is not able to implement Keynesian policies b/c we borrow and spend constantly.
- watchandwait 15y agoNone of the American "Keynesians" calling for deficit spending today called for a balanced budget 5 years ago during the boom. I'd argue there are no true Keynesians, just politicians looking for an excuse to continue spending.
- guelo 15y agoIf you didn't hear liberals complaining that we couldn't afford the wars and Bush's tax cuts then you weren't paying attention.