This about says it all, don’t you think, from the NY Times:
Speaking from the White House after the Republican meeting ended, Mr. Obama said that both sides gave ground in reaching the bargain and that some of the cuts accepted by Democrats “will be painful.”
“Programs people rely on will be cut back,” said Mr. Obama, who said Americans had to begin to live within their means. “Needed infrastructure projects will be delayed.”
John Maynard Keynes 0
Herbert Hoover 1
Yet Keynes’ ideas are what helped end the Great Depression and absolutely reduced the misery suffered by the majority of Americans in that era. Today, however, we have an American President, a Democrat no less, who says Americans must live within their means. Well, except rich people who got their tax cut in December. They’re riding high. And, no, the article makes zero mention of that tax cut, despite having a basic primer on the Bush tax cuts on the Times site. And no mention that infrastructure spend creates desperately needed jobs for the working class and middle class.
If you want, consider this an open thread on the topic.
What Do You Think?
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