So sayeth Dickie Durbin, no less.
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.”
[…]
“So here we are in the horns of a dilemma,” Durbin said. “In order to avoid the disaster that would occur August 2 if the United States defaulted for the first time in its history, we are being told we have to cut back on government spending and by cutting back on spending, we may also have a negative impact on our economy.”
http://www.verumserum.com/?p=27899
America has never defaulted before?
Wrong, Dickie.
The American government has defaulted before and royally screwed the American people under the Dems and FDR.
I hope the Republicans drive a big, fat stake through the heart of John Maynard Keynes. It couldn’t happen to a better socialist.
Related post:
http://sfcmac.wordpress.com/2011/07/15/the-liar-in-chief-americans-want-me-to-raise-taxes/
Related articles
- Let’s hope Durbin is right! (bokertov.typepad.com)
- Debunking Keynesian Economics (kapitalcon.wordpress.com)
- Obama and Keynes: The Perfect Pair(economicnoise.com)
- http://www.bearmarketinvestments.com/deal-or-no-deal
- http://spectator.org/archives/2011/08/03/the-disgrace-of-obamanomics