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

To: Steve Lokness who wrote (178337)	12/30/2011 8:52:45 PM
From: studdog	Read Replies (2) \| Respond to of 543025

You are quite wrong Steve, Everyone seems to conveniently forget the other half of Keynesian economics, that is, austerity, decreased government spending, and taxation during good times. Keynes advocated deficit spending when the economy slowed as a means to boost said economy but the corollary was the balancing of the books during good times when government spending wasn't needed. The failure of our leadership in the last 25- 30 years was the continued growth of government spending even during the boom times, without the taxation to cover it, especially during the Bush years (reagonomics on steroids). Keynesian economics works but only if followed in boom times as well as busts. We really have done neither as our stimulus was paltry during the bust and we spent our seed corn during the good years. The blame goes around to all the clowns in DC but the republicans have been particularly heinous in their actions and misrepresentation of what Keynes was all about. SD