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Politics : Don't Blame Me, I Voted For Kerry -- Ignore unavailable to you. Want to Upgrade?

To: Original Mad Dog who wrote (6244)	3/10/2004 6:54:43 PM
From: CalculatedRisk	Read Replies (1) \| Respond to of 81568

Mad Dog, Yes, the economy entered a recession right after Bush took office. And I have posted several times that Bush is not responsible for that recession. But you go stray when you say Bush did "did exactly what the Keynesian playbook says ..." This is incorrect. Keynes was a huge critic of improper fiscal policy, and most economists agree that Keynes would have opposed this tax cut! Just because it is a deficit doesn't make it "Keynesian". If you are interested in actually learning about Keynes (instead of writing false common wisdom), here is a great article. It demonstrates clear thinking, and Keynes acerbic view of bad policy. "The Economic Consequences of the Peace", Keynes, 1919 socserv2.socsci.mcmaster.ca With regards to Hoover, I think he gets a bad rap. The structural problems that led to the crash and Great Depression where already in place when Hoover took office. Still, it is a fair criticism that Hoover didn't know what to do. That same criticism rings true today: Bush doesn't understand why jobs are not being created (just like Hoover) and he doesn't have a clue about what to do.