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Politics : Formerly About Advanced Micro Devices
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To: Alighieri who wrote (574172)6/28/2010 9:44:32 PM
From: Tenchusatsu  Read Replies (2) of 1570734
 
Al, > Yes, of course deficit spending is not a good thing, but it is preferable to a depression

The flaw is assuming that the two are mutually exclusive.

Deficit spending means nothing if it doesn't have a stimulative effect on the economy. After a year and a half (two years if you include the end of Bush's term) of "stimulus," we still have unemployment at close to 10%. Even last month, almost no new private sector jobs were created; most of the jobs were census workers.

Keep taking what Krugman says as gospel. It's easier than having to defend his twisting of Keynesian economics.

Tenchusatsu
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