Keynesians always fail.
Always.
Krugman is a die hard Keynesian. Famous for being wrong, then doubling down. “Spend more money!” is his universal prescription to countries. “Deficits don’t matter!” is another.
Not working? (duh)
“Spend more!”
Even Keynesians would shake their heads at the last 50 years. Spend more during bad times and spend even more during good times. The only time we got close to a Keynesian surplus to pay down the debt was during Clinton's term when Republicans won Congress and new spending programs ground to a halt.
+1.
5.56mm
Maybe, maybe not. We've never done it. Keynesian economics requires governments to pull back spending in the good times to save $ and then spend that $ in the bad times. Instead, the government has just spent more continually no matter what. So we have no idea if Keynesian economics works or not because its never been attempted.