Robert Samuelson: 60's Budget Blunder haunt's today's economy

[Democrats_win]

Check it out--the conservative's answer to Krugman's call to end austerity. All I can say is that these con-job's have to blame someone....

http://www.ocregister.com/opinion/economic-362506-percent-deficits.html

snip
WASHINGTON – Wondering why government can't restart the sluggish economy? Well, one reason is that we are still paying the price for the greatest blunder in domestic policy since World War II. This occurred a half-century ago and helps explain today's policy paralysis. The story – largely unrecognized – is worth understanding.

Until the 1960s, Americans generally believed in low inflation and balanced budgets. President John Kennedy shared the consensus but was persuaded to change his mind. His economic advisers argued that, through deficit spending and modest increases in inflation, government could raise economic growth, lower unemployment and smooth business cycles.

None of this proved true; all of it led to grief....

[Scuba]

1. Hey, I just made up some shit that says my side is good and your side is bad...

... so argument over, now shut the fuck up.





(The above is a synopsis of every conservative argument I've ever heard.)

[Fuddnik]

4. That's the whole of their childish arguments.

Nyah, nyah! So are you.

[unblock]

2. shame on obama for blaming his predecessor!

it's the fault of his predecessor's predecessor's predecessor's predecessor's predecessor's predecessor's predecessor's predecessor's predecessor!

[Warpy]

3. Aw, poor babies.

Of course, if they really wanted to blame Kennedy for something, they should have blamed him for signing that lowering of the top marginal tax rate to 70%, ushering in decades of corporate top management greed and giving the insanely rich enough extra money to start buying up Congress.

If there were ever an argument for progressive taxation with a confiscatory rate for the top earners, the past 40+ years should do while history continues to be written and studied.

[jtuck004]

5. So the deficit spending to work against the Depression, and the deficit

spending (aka Investment in our country and people) with which we finished it and won WWII were blunders?

Heil, Herr Samuelson!

[eridani]

6. Wrong language

Nazis were Keynsians too. For that matter, just about all countries came around to that perspective eventually.

[jtuck004]

7. That's true, but I feel he has other similar characteristics. Or maybe just a mean streak. n/t