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Politics : View from the Center and Left
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To: Sam who wrote (268223)1/28/2015 11:23:18 AM
From: Steve Lokness  Read Replies (2) of 540985
 
<<<<< You just see bigger deficits if Krugman's and Stiglitz's preference for more Federal money to be put into the economy back in '09-'10>>>>>

No that is not true at all Sam. I do see bigger deficits, but that is not just all I see. A couple of the results of the Obama economy are a smashingly strong dollar and low oil and gas prices. I don't know how you could possible suggest that either of these could have been better had we spent wildly. Another benefit to the middle class is low interest rates. The stars really are lined up in favor of America right now.

At the time Krugman just wanted to stimulate wildly suggesting we were domed if we didn't. That result and prediction by Krugman just did NOT happen. But my biggest argument against Krugamans stimulation ideas was that they weren't directed at America. He just wanted to get money in the hands of consumers so that demand would go up. If you remember it was all about demand. But of course most of that money borrowed by our government then ends up stimulating China and Korea and Jpan and Germany as we would have gone out and bought electronics and European cars. How in Gods name does that makes sense unless you believe it is our duty to stimulate the entire planet?

You haven't heard me drumbeat on debt lately. I do wish we would tax the rich more and pay down that debt, but it is not ridiculously out of control either. Thank you Obama!
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