Originally Posted by Brainiac
I've said in the past on this site that Keynes is undoubtedly spinning in his grave in horror at how his economic philosophy has been twisted and distorted by the current gang in Washington. Keynes proposed intentionally running surpluses in good times and deficits during economic downturns. He didn't propose running trillion dollar deficits every freaking year and having the government provide everything from the cradle to the grave.
Referring to Obamanomics as Keynesian is akin to saying that Scott Pioli is running the Chiefs just like the New England Patriots.
Well, this here shows just how stoopid Keynes was. He failed by putting his faith in politicians. That's why his theory looks good on paper but fails in the real world. Human nature and human action by politicians is where it falls down.
Yes, Obamanomics is Keynesianism but in the extreme.
“The power to declare war, including the power of judging the causes of war, is fully and exclusively vested in the legislature.” ~ James Madison, Father of the Constitution
“We do not believe in aggressive or preventive war. Such war is the weapon of dictators, not of free democratic countries like the United States.”~ Truman, Sept 1, 1950