Friday, July 29, 2011

GDP drops

Keynesian economics at this juncture indicates that this is not the time for government to stop spending or even cut back. See the "Paradox of Thrift." There is no equivalenc
­y between our homely little budget and what a government­'s budget should be. We need jobs. And we need to spend ourr way out of this.

As to debt, deficit negotiatio­ns congress has two tools: Taxes and cutting spending. You just can't take away the taxes tool as has been done by this dumb Grover Norquist pledge that these Republican congress people have signed. The American public is being taken for a ride by the Republican message (which BTW is very clever). .

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