- Sep 27, 2012
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Thats on the assumption that success happens.To be fair, if I understand the basics of Keynesian economics we have never actually tried it. The idea is that you borrow from the future to help even out the pitfalls of today with the actual intent of taking some off the top during the good times - you know actually paying down that debt and saving for when the inevitable downturn occurs.
Keynesian economics has failed over and over and over and over. Fucking idiots.
But hey, the statists love it. It grows the federal govt!
The problem is not so much that we spend extra in hard economic times through borrowing but rater that when those times end we simply increase spending and (much worse) borrowing even more. You certainly can stimulate now with the success of yesterday or tomorrow but you cannot stimulate now with nothing at all.
What we are doing is not following any economic theory, it is following vote buying theory.