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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (39071)	11/27/2009 1:33:22 PM
From: DuckTapeSunroof	Respond to of 71588

Re: "You can have a deficit continuously as long as the debt is growing slower than the long run growth rate of the economy, and it doesn't really cause a problem in terms of looming fiscal crisis or growing burden of servicing the debt." That much is demonstrably true. But I wasn't really talking about that --- what I was referring to was (what I think is) the single most glaring weakness in Keynesian Economics --- that the politicians who actually implement economic policy are eager enough to increase spending during recessions, but they are SELDOM willing to run balanced budgets or surpluses (paying down that debt) during the top part of economic cycles. Without such discipline to adhere to Keynesian policy prescriptions during both parts of the cycle... many more harms are produced, and many lesser benefits are seen.