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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Cogito who wrote (172838)	9/29/2011 12:36:25 PM
From: Steve Lokness	Respond to of 544079

<<<<<Keynesian policy would have been to first calculate the total amount of stimulus that was required and to apply that.>>>>>> And how do you do that? There is no scientific formula - in fact Krugman this morning to his credit said as much in the piece posted by John. ..........I think people have come to think of Keynesian policy as some secrete formula when it is nothing of the sort. It is hyped by some - but many of them have a liberal ideology that causes them to grab onto Keynesian in effort to support their particular likes in government spending. The problem with Krugmans thinking is that we can ALWAYS claim we didn't spend enough - therefore Keynesian didn't work. But what ABSOLUTELY has to be included in Krugmans suggestion is an inclusion of what the deficit spending does to our economy in the future. The fact is that we have slipped into Keynesian spending and we today are paying the price for earlier deficit spending - Keynesian spending.