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To: neverdem
Considering this, some economists urge more "stimulus." In a paper, Christina Romer -- former head of President Obama's Council of Economic Advisers -- argued that scholarly studies support the administration's view that its $787 billion stimulus in 2009 cushioned the recession. Another big stimulus "would be very helpful ... to really create a lot of jobs."

I recall Ms. Romer defending her Keynesian-based economic failures once by saying (I'm paraphrasing)..."It's accepted economic theory, it's in all our textbooks, and it's what we teach our freshmen students."

There you have it. Since the Keynesian nonsense is in the textbooks that she and her contemporaries write, it must be gospel.

And, I have never met a liberal that did not believe to the very core that going into debt to do public works projects would get any economy roaring in no time.

Every last one of them cites the Hoover Dam and most will talk of the magic "multiplier effects".

.

8 posted on 12/19/2011 10:20:36 PM PST by Seaplaner (Never give in. Never give in. Never...except to convictions of honour and good sense. W. Churchill)
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To: Seaplaner
Hoover Dam

Spending is great if it's spent on a true investment. Building Hoover Dam is an example of huge government sized spending that has an actual return on investment. In most cases though government spending is the most wasteful kind of spending there is and has a negative return on investment. I don't think Keynes ever argued for destroying wealth. His ideas were hijacked by the left to justify envy driven confiscation and destruction of other people's money.

20 posted on 12/20/2011 3:42:02 AM PST by Reeses (TV gives men a window into what women want, and it isn't pretty.)
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