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To: Chris08 who wrote (262)6/25/2012 11:27:30 AM
From: Steve Lokness1 Recommendation  Read Replies (1) | Respond to of 513
 
<<<<Krugman has been right about almost everything recently>>>>

How would we know that? Krugman wanted three times the stimulus package that Obama did, so we have no idea what would have happened had Krugman got his way. Krugman is every bit as wrong - in my opinion - as those who think our slowdown is a result of overregulation. They both offer simplistic ideas to a complex problem.

The ideas of Keynes help create the bubble. Remember the Bush 600$ cash checks in response to the first recession in his term - hard to get more Keynesian than that? And the wars? Keynes doesn't distinguish what government spends on - he just pushed the idea of lower interest rates and government deficit spending. We got that in a big way with the wars - well all of government really. And how did that work out for us?



To: Chris08 who wrote (262)6/25/2012 12:03:18 PM
From: Robohogs  Read Replies (2) | Respond to of 513
 
This austerity argument is full malarkey as applied to US. None of the plans being discussed ever CUT government spending, just the growth. Federal govt is not slowing the govt. As for state and local, they have never been more bloated. And feds have no business giving them money to over-spend. They made their own beds. Just to be clear, Repub plans to cut wealthy taxes are even more absurd.

Jon