In other words: forget the deficit, do not spend cautiously, bail out everyone and everything. Increase government spending like FDR did.
While I think that the government, per Greenspan's policies, are the ones that got us into this mess, I am now thinking that it may take some more government action to hasten the resolution of this mess. While I am definitely not a fan of out of control spending, we must take everything into context. George W. Bush, fiscal conservative (ha!) has added trillions of dollars to our national debt. Right now, we are in a world in which every country's economy is in shambles. I'm not convinced that the free market alone will work for the US when the EU, China, and others are getting huge government help. What's another $600B anyway; at this point it's a drop in the bucket.
2 comments:
Greenspan harmed us more than helped. I still don't want to see the gov't spend too much and put us in a depression. By the way, FDR's policies ended up screwing us over later on.
I would encourage you to read FDR's Folly by Jim Powell and The Great Depression by Murray Rothbard. The government got us into this mess, it is silly to think they can get us out of it. It would be like taking Benedryl to treat an allergic reaction to Benedryl.
Plus, don't listen to Krugman. He is just more proof that the Nobel Price is now a joke.
Post a Comment