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GrimJack:
Keynesian economics is the principle that a lot of Conservatives rally against. I am not a Conservative - I am a moderate although I am probably showing some Conservative tendencies on this thread.
It's basically the idea that government spending lifts an economy out of the dumps.
Conservatives will notoriously argue that it wasn't FDR and his New Deal programs that lifted our country out of the Great Depression - it was WWII.
The problem with that argument (and I am sure the Conservatives don't realize they are making it) is that by saying that they are actually supporting the theory of Keynesian Economics. When we entered WWII - we went into a wartime economy and it was government spending (on tanks, guns, soldiers) that got our economy humming and created Detroit and Pittsburgh and so forth.
So in essence, Conservatives prove Keynesian economics does work to a certain degree.
I think the problem was during Bush we entered a "War(s)" but didn't create a Wartime economy. Even John McCain said you don't give tax breaks during a war (Reaganomics I would say doesn't work during a war). Taxes went up during WWII and people really sacrificed with victory gardens and such. That was the philosophy of the time - learnign to do without for the sake of "the Boys."
Never have so few sacrificed so much for our country this time. Nobody in Congress has kids in the armed services. It's like the war and the country and the economy are all disconnnected emotionally when nothing could be further from the truth. 1/4 of all our oil imports goes to the military for instance.
I don't even think the average Joe remembers we have 2 wars going on let alone the sacrifice.
I think the best thing Obama could do right now is convert our country to a wartime economy.
And to bring it back to topic, I am not sure 99 weeks of unemployment really jives with a Wartime economy.
Keynesian economics is the principle that a lot of Conservatives rally against. I am not a Conservative - I am a moderate although I am probably showing some Conservative tendencies on this thread.
It's basically the idea that government spending lifts an economy out of the dumps.
Conservatives will notoriously argue that it wasn't FDR and his New Deal programs that lifted our country out of the Great Depression - it was WWII.
The problem with that argument (and I am sure the Conservatives don't realize they are making it) is that by saying that they are actually supporting the theory of Keynesian Economics. When we entered WWII - we went into a wartime economy and it was government spending (on tanks, guns, soldiers) that got our economy humming and created Detroit and Pittsburgh and so forth.
So in essence, Conservatives prove Keynesian economics does work to a certain degree.
I think the problem was during Bush we entered a "War(s)" but didn't create a Wartime economy. Even John McCain said you don't give tax breaks during a war (Reaganomics I would say doesn't work during a war). Taxes went up during WWII and people really sacrificed with victory gardens and such. That was the philosophy of the time - learnign to do without for the sake of "the Boys."
Never have so few sacrificed so much for our country this time. Nobody in Congress has kids in the armed services. It's like the war and the country and the economy are all disconnnected emotionally when nothing could be further from the truth. 1/4 of all our oil imports goes to the military for instance.
I don't even think the average Joe remembers we have 2 wars going on let alone the sacrifice.
I think the best thing Obama could do right now is convert our country to a wartime economy.
And to bring it back to topic, I am not sure 99 weeks of unemployment really jives with a Wartime economy.
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