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Politics : President Barack Obama
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To: tejek who wrote (114451)5/31/2012 6:04:57 PM
From: RetiredNow  Read Replies (2) of 149317
 
Nice try. Keynesianism was never about income growth. It's all about spending growth. But forget that for a second. We all know that the current regime focuses on GDP growth and the stock market as a means to drive a wealth effect. It's all backasswards. They are focusing on manipulating the symptoms in the hope that they change the root causes.

I'd much prefer a focus on national income as the key measure of economic health. If Congress and Obama was focused on that, then stimulus and deficit spending would be a hell of a lot less attractive, because right now they do those things in part to goose GDP higher, even though increasing spending doesn't do much for national income.
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