Bush is spending like a socialist, and his successor will be a socialist. Our country is going downhill fast."As President Richard Nixon observed in 1971, “We are all Keynesians now...."
It's just been renamed, "Compassionate Conservatism".
"Bush is spending like a socialist, and his successor will be a socialist. Our country is going downhill fast.
"As President Richard Nixon observed in 1971, “We are all Keynesians now...."
It's just been renamed, "Compassionate Conservatism".
Keynesianism manages surpluses and deficits in raction to inflation and deflation. Bush is not doing that.
Bush is a supply sider. This is "supply side" economics. It is a "conservative" ideology. It's not Keynes.
Supply side economics originally, looked at production and demand. The idea was to bonus the suppliers (producers) given certain economic indicators with market interventions.
The Republican party has redefined the "supply side" to be wealthier individuals. The way this "supply side" can be activated to "help" the economy is via income tax cuts, death tax cuts, etc., intervention with the pocket book rather than market.
I'm often amused many get upset when some call Bush's cuts "tax cuts for the rich." That's exactly what they are and what supply side economics call for. Some tax relief for the middle classes is just done for political cover. But the supply side purists have no shame, they believe in tax cuts for the rich and don't hide from it.
Personally, I hate anyone calls them "tax cuts." They are not coupled with spending cuts, they are actually tax deferments.