The View From 1776
Monday, June 21, 2010
The Daily Socialist - 6/21/10
Democrat/Socialist devotes of Keynesian economics believe that Federal deficit spending is a form of savings. Following Keynesian doctrine, the more we spend and the deeper we mire ourselves in debt, the richer we become.
If you believe that, try paying for future needs like college for kids with IOUs deposited in the cookie jar after you spend every last cent of your pay check and borrow still more to buy lottery tickets.
Don’t forget that a fundamental plank in Krugman’s and other Keynesians’ platform is that WHAT the government spends money upon doesn’t matter. All that counts is how much fiat money the government can create and spend. So personal spending on lottery tickets will make you just as rich, for example, as getting an education to qualify yourself for a higher paying job.