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To: Dan3 who wrote (254873)6/17/2010 8:34:22 AM
From: RetiredNowRespond to of 306849
 
So the $800B Recovery Act, the constant extension of unemployment benefits, the new health care bill, and the massive expansion of both government payrolls and government salaries, doesn't count as a Keynesian expansion of government spending?

I think we can put this debate to rest very quickly, though. Check out the chart below that shows government spending as a percentage of GDP. Notice the sharp rise in the last couple of years. That is the very definition of Keynesian spending expansion.



usgovernmentspending.com



To: Dan3 who wrote (254873)6/17/2010 9:38:28 AM
From: patron_anejo_por_favorRead Replies (2) | Respond to of 306849
 
Japan used boatloads of Keynesian stimulus, and they've been in a funk since 1990. All they've got to show for it is a ginormous debt:GDP. It's hardly a panacea, not when you've been running deficits for 50 years already.


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