Obama & Co. had to try Keynesian stimulus first...because it was the only known way to handle a depression...
But this depression was structural...not cyclical...
So the stimulus can not work the way Keynes considered it should...
The US economy is almost totally "de-industrialized"...
Almost nothing of value is made in the US anymore...no "value added" production and export...as was the case when Keynes knew the US economy...
Now...we are going to try the "Hoover Cure"...cuts in spending and elimination of deficits...and perhaps more tax cuts for the rich.
Will that work...? I doubt it...and so do most serious economists... Consider: the thriving global economies now are all socialist or communist... China, India and Brazil are examples... Why? They have economic development policy ...ie GOALS...!
The Tea Party plan is all talk about being more and more "anti-Progressive" and "anti-Keynesian"...
How does that work in this situation...? Less Regulation of the international corporate looters? More tax cuts for the already rich...who have concentrated the wealth to levels not seen since the middle ages...? Less social spending as jobs continue to disappear to low wage/slave wage nations...?
Tea Party Talk about the Constitution and Obama-bashing is not going to end this depression...
But if you think it will Good Luck with that...
I'm so ready for Sarah...! Bring her on...
