Reagan was a Kenyesian

according to the wackos today Reagan was a commie, socialist, progressive anti-american...eh, did I miss any???
 
faethor said:
http://www.nytimes.com/2012/06/08/opinion/krugman-reagan-was-a-keynesian.html?_r=1
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Oh please, that would mean the nearly $16T Obama has spent (or will have spent during his Presidency) should have generated 20M new jobs, but instead, he has lost 2M jobs while digging us nearly $6T in fresh debt. Reagan a Keynesian? Of course not, the DoD build up wasn't enough to trigger that massive amount of newly created wealth, that was his lowering of the capital gains and upper income taxation rates. Now it's true his last two budgets were heading South in a explosion of pork, but that was because the Democrats had full control of both the House of Representatives and the Senate and went way over board in spending after they called Reagan's much leaner budget DOA.

Now, seeing how well Keynesian economics are doing for the Europeans, where do you think we will be if Obama gets four more years? http://usdebtclock.org/cbo-omb-gop-budget-estimates.html
 
actually reagan was an ideological buffoon who wasn't any school of thought other than "fame". when he started losing his mind for real ,people tried to kill him. not much mystery or anything else there... fed decided theyd surreptitiously prop up the government no matter what it took to defeat red menace and then they changed it to an international war on protesters.. er terror...
 
@Dammy, You do realize Kenyesian is not Kenyian right?
:lol:
 
Dammy said:
Oh please, that would mean the nearly $16T Obama has spent (or will have spent during his Presidency) should have generated 20M new jobs, but instead, he has lost 2M jobs while digging us nearly $6T in fresh debt.
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I don't think that the President can just spend money like that. Congress has to make that decision - which they apparently did.

I am curious about how you come to your conclusions up above though. The private markets lost over a trillion dollars in stock valuations. Real estate lost trillions of dollars ($11T according to William K Black) - all the derivatives based on stocks and real estate must have lost trillions as well but they are not publicly disclosed. If Obama has put another $6T into the economy then he's really only filling the hole, not adding more. The public borrowing is just taking the place of all the private money that turned out to be debts that couldn't be paid.

Expect debts to keep rising and currencies to devalue, but it's not because of anything that any President does, per se. It's a function of our monetary systems. Until we change them to something better we will be stuck in this spiral.
 
FluffyMcDeath said:
I don't think that the President can just spend money like that. Congress has to make that decision - which they apparently did.
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I think the last sentence of Dammy's paragraph betrays that he knows it's Congresses job too. Sure he starts by blaming Obama as the President but by the end he's talking about Reagan and moves the blame to the Congress. The law is certainly consistent on how this all works. Dammy just works hard to ignore how it works and instead just blames Dems.

The sad truth is both parties are partly guilty. There is no innocence. (which makes the sig I changed a couple of weeks ago fairly apropos.)
 
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