We stopped following (classical) Keynesian economics because it did not predict the stagflation of the 1970s. Also, no elected official really wants the governm

We stopped following (classical) Keynesian economics because it did not predict the stagflation of the 1970s. Also, no elected official really wants the government to save - because they can score political points by increasing government spending or decreasing taxes. (Yes, this kicks the can down the road, but this is a failure mode of democracy.)