Vox kinda sums it up, having shown that Krugman is a complete boob.
It's always the same with Keynesian cultists. They hold to the faith that government stimulus works even though the economic logic dictates that it can't. And when it doesn't work, it must not have been big enough. And when it is shown that the stimulus was bigger than they recommended, then it just wasn't the right kind. And when it is shown that it was the kind that they recommended, well... we'll just have to wait for Krugman's latest epicyclistic excuse.
Yup.
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8 comments:
See also frequent commenter Strupp...
Lobbing grenades again Dadster....
You crack me up.
I thought you'd like that.
Gives you the energy to complete the week!
Nice summation.
Darn. What was the reason that the Bush tax cuts didn't produce millions of jobs?
They did Foust. They were put in place to get us out of the 9/11 recession. And it worked. Revenues coming into the Treasury were back to Clinton era levels in 2007 before the recession started.
The government's problem was, and remains, spending.
I think you left something out there. Why'd this recession start? How much did Bush spend?
Less than Obama. In fact, the big O is tracking to increasing the debt more than all his predecessors combined in just 4 years.
So when exactly does this become Obama's economy John?
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