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Durbin: Debt Deal Will Be The Death Of Keynesian Economics
News Wire ^ | July 31, 2011 | Elise Foley

Posted on 08/01/2011 8:24:53 AM PDT by re_tail20

The Republicans are killing Keynesian economics with their attempt to cut spending as the economy rebounds from a recession, Senate Majority Whip Dick Durbin (D-Ill.) said in a floor speech on Sunday.

“I would say … that symbolically, that agreement is moving us to the point where we are having the final interment of John Maynard Keynes,” he said, referring to the British economist. “He normally died in 1946 but it appears we are going to put him to his final rest with this agreement.”

Keynes argued that aggregate demand was not always enough to spur full employment and that outside structures, such as governments, could influence the economy to create jobs and regulate business cycles. His thinking influenced later New Deal spending by President Franklin Delano Roosevelt.

(Excerpt) Read more at vxec.com ...


TOPICS: Government
KEYWORDS: durbindebt
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To: re_tail20

Responsibility has it’s limits.


21 posted on 08/01/2011 8:34:00 AM PDT by broken_arrow1 (I regret that I have but one life to give for my country - Nathan Hale "Patriot")
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To: re_tail20
He normally died in 1946

Whack him again, he's not dead enough.

22 posted on 08/01/2011 8:34:15 AM PDT by ROCKLOBSTER (I love the smell of burning Hope & Change in the morning.)
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To: re_tail20

Is that a promise, Dickie?


23 posted on 08/01/2011 8:35:43 AM PDT by EDINVA
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To: Parmy
An economist looks at reality and tries to find a theory to fit.

Not quite. And economist picks a theory and tries to bend reality to fit.

24 posted on 08/01/2011 8:36:10 AM PDT by BitWielder1 (Corporate Profits are better than Government Waste)
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To: re_tail20
“He normally died in 1946 but it appears we are going to put him to his final rest with this agreement.”

One can only hope that the ideas of this pedophile/pederast socialist (Keynes, not Durbin) are relegated to the dustbin of history.

Unfortunately, since this speculation is coming from Dick (the turban) Durbin, who is wrong on every issue, it is probably wrong, also.

25 posted on 08/01/2011 8:37:16 AM PDT by bkopto (Obama is merely a symptom of a more profound, systemic disease in American body politic.)
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To: DManA
Here's pretty much all you need to know about Keynes in one quote:

"Continuous – a continuous process of inflation, governments can confiscate secretly and unobserved an important part of the wealth of their citizens. By this method, they not only confiscate, but confiscate arbitrarily. And while the process impoverishes many, it will actually enrich some. The process encourages all of the hidden forces of economic law on the side of destruction, and does it in a manner that is not – in a manner that not one man in a million can diagnose,"

26 posted on 08/01/2011 8:37:40 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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To: re_tail20
This time last year the Tea Party was still defending against allegations of racism and fringe extremism. Now, they've turned the entire Obama regime, with its adoring MSM, on its head. Morning Shmoe was hilarious. This is worth at least a year's of liberal self-loathing leading into the 2012 World Series.

Just declare victory, enjoy the rest of the summer, and watch the miserable Left self-immolate.
27 posted on 08/01/2011 8:38:11 AM PDT by Thrownatbirth (.....Iraq Invasion fan since '91.)
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To: BitWielder1
Have any union workers been laid off recently? Have any raises been set aside?

The government pensions have to be dealt with....no collection until age 60.

28 posted on 08/01/2011 8:38:23 AM PDT by Sacajaweau
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To: Lurker

Though I doubt he is truly dead, go ahead and burn him.


29 posted on 08/01/2011 8:38:43 AM PDT by Sequoyah101 (Half the people are below average.)
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To: re_tail20

Excellent! Call Rev. Al Sharpton and he can hold a funeral service like he did with the “N” word.


30 posted on 08/01/2011 8:39:13 AM PDT by zavvone
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To: BitWielder1

Good enough.


31 posted on 08/01/2011 8:40:11 AM PDT by Parmy
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To: Huskrrrr

Exactly!

Wow, this is so obvious - I can’t believe people don’t see this. When the media and the Democrats all start in with the same message, you can bet that it’s a deliberate strategy. In this case, they are all talking about how this is a huge victory for the Tea Party, and how they got their way. Furthermore, they are talking up the big spending cuts (there aren’t any).

This is why. The RATS know that the economy is headed south in a big way, and they are positioning themselves to be able to blame it on “Republican cuts”.


32 posted on 08/01/2011 8:41:06 AM PDT by Scutter
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To: re_tail20

Hey, Durbin—if it upsets you so much then don’t vote for it. I won’t hold the no vote against you.


33 posted on 08/01/2011 8:46:53 AM PDT by freeangel ( (free speech is only good until someone else doesn't like it)
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34 posted on 08/01/2011 8:48:14 AM PDT by TheOldLady (FReepmail me to get ON or OFF the ZOT LIGHTNING ping list.)
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To: re_tail20

Keynes and his radical peers from that era deserve the deepest eternal shame.

He and his fraternity of too-clever-by-half humanists are worthy of having their bones put into a public urinal to be targeted for continual desecration.


35 posted on 08/01/2011 8:48:24 AM PDT by lurk
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To: re_tail20

Duck Durbin said “The Republicans are killing Keynesian economics with their attempt to cut spending....”

Where did he get the idea that spending is going to be cut?


36 posted on 08/01/2011 8:49:45 AM PDT by Terry Mross (I'll only vote for a SECOND party.)
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To: re_tail20

That’s something to celebrate.


37 posted on 08/01/2011 8:50:45 AM PDT by griswold3 (Character is Destiny)
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To: re_tail20

It’s about time to get rid of that fairy’s theory.


38 posted on 08/01/2011 8:50:45 AM PDT by beethovenfan (If Islam is the solution, the "problem" must be freedom.)
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To: Travis McGee
Keynesian economics died by a Kenyan, how ironic...
39 posted on 08/01/2011 8:54:37 AM PDT by fatez ("If you're going through Hell, keep going." Winston Churchill)
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To: Scutter
The rats are too stupid to know such a thing. They live in an alternate reality. The truth is they “think” the economy will go south because they “think” this is bad economics. It's not and the economy will probably start a slow move up. Of course then Obama will take credit, but we won and I can't wait until the Senate races start. Boy do we have fire power for the Dem incumbents.
40 posted on 08/01/2011 8:57:36 AM PDT by normy (Don't take it personally, just take it seriously.)
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