Re:How Depressions Work
by johnrob on Wednesday February 04, 2009 @03:13PM
(#466408)
How will this help us pay the 45 trillion dollars of combined public and private debt? Keep in mind our GDP is 13 trillion.
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The Keynesian prescription, AIUI, actually has two sides: the government should run a deficit (when necessary) during a recession and run a surplus during a recovery.
It's a damn shame that the Bush Administration didn't follow the second half of this advice for the past eight years, but that's no reason to ignore the first half now.