tag:blogger.com,1999:blog-12897315.post3408172155177380029..comments2024-03-28T09:54:55.115-05:00Comments on Dad29: Like "Keynesian Theory"? Then Practice ALL of ItDad29http://www.blogger.com/profile/08554276286736923821noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-12897315.post-83335392749269109052010-02-08T22:25:34.599-06:002010-02-08T22:25:34.599-06:00whoa it's been more than 5 years hasn't it...whoa it's been more than 5 years hasn't it. Time flies.J. Struppnoreply@blogger.comtag:blogger.com,1999:blog-12897315.post-49494120306932764142010-02-08T22:24:08.173-06:002010-02-08T22:24:08.173-06:00BTW, Paul Ryan says reduce spending. Fine.
But P...BTW, Paul Ryan says reduce spending. Fine.<br /><br />But Paul Ryan has a tax revenue problem which is why he asked the CBO to assume revenues to be 19% GDP when scoring his "road map". You know damn well his tax reform isn't going to come close to generating that kind of tax revenue. His tax policy is what worries me because it's going to heavily involve the same ol' supply side mumbo jumbo that fell on it's face 5 years ago.J. Struppnoreply@blogger.comtag:blogger.com,1999:blog-12897315.post-68128690657797149452010-02-08T22:08:34.634-06:002010-02-08T22:08:34.634-06:00My comment read a bit wrong regarding state budget...My comment read a bit wrong regarding state budgets. I agree that the FEDS shored up state budgets was that we didnt' have dozens of states in the union contracting spending during a time when we needed to spend more. My point was that this move was much more important than your link states. The multiplier was NOT zero. This is wrong.J. Struppnoreply@blogger.comtag:blogger.com,1999:blog-12897315.post-81210893067256496022010-02-08T06:26:12.947-06:002010-02-08T06:26:12.947-06:00You speculate that Keynes would have gone larger, ...You speculate that Keynes would have gone larger, the Carn/Mell guy says not so.<br /><br />You argue that the Feds didn't (in effect) 'shore up State budgets,' where it is CLEARLY the case that they did so. Roadbuilding dollars ARE State budget dollars. School dollars ARE State/Local dollars. <br /><br />As to PAYGO, we can agree. But Keynes says "reduce spending."<br /><br />So does Paul Ryan, you know.Dad29https://www.blogger.com/profile/08554276286736923821noreply@blogger.comtag:blogger.com,1999:blog-12897315.post-63057932270410622010-02-07T22:41:51.999-06:002010-02-07T22:41:51.999-06:00Keynes would have been in favor of temporarily ext...Keynes would have been in favor of temporarily extending the Bush tax cuts. Hopefully the administration will do this. I think they will.<br /><br />The current deficits are not sustainable. No one disagrees with this. But attempting to balance the budget now is simply insane. Keynes would agree I'm sure. The problem is that the average tea party person (and GOP leadership for that matter) has no idea why it's necessary (and to our advantage) to deficit spend in a liquidity trap. They just can't comprehend this concept. <br /><br />In hindsight, Keynes would have probably promoted a much BIGGER stimulus package in the short term with legislation instituting a paygo system at some point in the future. This would keep inflation expectations under wraps and allow stimulus to have it's intended results. <br /><br />....and that's what we should do. You and I know that neither side is capable of acheiving this. <br /><br />P.S. the comment about transfer payments to states to shore up budget shortfalls is just wrong. For the sake of time I'm just going to say it's wrong, wrong, wrong and stop there.J. Struppnoreply@blogger.com