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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (607594)4/12/2011 11:51:11 PM
From: i-node  Read Replies (1) of 1581920
 

"But one of the most basic principles of economics is that when an economy is anemic, governments should use deficit spending as a fiscal stimulus, even though that means an increase in debt.

It totally irritates me that this line continues to be repeated so often without being questioned. While I don't disagree at all with the reference to Hoover, the evidence is that FDR's policy, if anything, DELAYED the economic recovery.

So, really, where is the evidence on which this "basic principle" of economics is based? This nonsense isn't limited to liberal Democrats, I might add -- many conservatives believe it as well.

It is tough to find any fiscal responsibility amongst politicians of all stripes in this country today.
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