Durbin: Debt Deal Will Be The Death Of Keynesian Economics

News Wire ^ | July 31, 2011 | Elise Foley

[re_tail20]

The Republicans are killing Keynesian economics with their attempt to cut spending as the economy rebounds from a recession, Senate Majority Whip Dick Durbin (D-Ill.) said in a floor speech on Sunday.

“I would say … that symbolically, that agreement is moving us to the point where we are having the final interment of John Maynard Keynes,” he said, referring to the British economist. “He normally died in 1946 but it appears we are going to put him to his final rest with this agreement.”

Keynes argued that aggregate demand was not always enough to spur full employment and that outside structures, such as governments, could influence the economy to create jobs and regulate business cycles. His thinking influenced later New Deal spending by President Franklin Delano Roosevelt.

[broken_arrow1]

Responsibility has it’s limits.

[ROCKLOBSTER]

He normally died in 1946

Whack him again, he's not dead enough.

[EDINVA]

Is that a promise, Dickie?

[BitWielder1]

An economist looks at reality and tries to find a theory to fit.

Not quite. And economist picks a theory and tries to bend reality to fit.

[bkopto]

“He normally died in 1946 but it appears we are going to put him to his final rest with this agreement.”

One can only hope that the ideas of this pedophile/pederast socialist (Keynes, not Durbin) are relegated to the dustbin of history.

Unfortunately, since this speculation is coming from Dick (the turban) Durbin, who is wrong on every issue, it is probably wrong, also.

[MrB]

Here's pretty much all you need to know about Keynes in one quote:

"Continuous – a continuous process of inflation, governments can confiscate secretly and unobserved an important part of the wealth of their citizens. By this method, they not only confiscate, but confiscate arbitrarily. And while the process impoverishes many, it will actually enrich some. The process encourages all of the hidden forces of economic law on the side of destruction, and does it in a manner that is not – in a manner that not one man in a million can diagnose,"

[Thrownatbirth]

This time last year the Tea Party was still defending against allegations of racism and fringe extremism. Now, they've turned the entire Obama regime, with its adoring MSM, on its head. Morning Shmoe was hilarious. This is worth at least a year's of liberal self-loathing leading into the 2012 World Series.

Just declare victory, enjoy the rest of the summer, and watch the miserable Left self-immolate.

[Sacajaweau]

Have any union workers been laid off recently? Have any raises been set aside?

The government pensions have to be dealt with....no collection until age 60.

[Sequoyah101]

Though I doubt he is truly dead, go ahead and burn him.

[zavvone]

Excellent! Call Rev. Al Sharpton and he can hold a funeral service like he did with the “N” word.

[Parmy]

Good enough.

[Scutter]

Exactly!

Wow, this is so obvious - I can’t believe people don’t see this. When the media and the Democrats all start in with the same message, you can bet that it’s a deliberate strategy. In this case, they are all talking about how this is a huge victory for the Tea Party, and how they got their way. Furthermore, they are talking up the big spending cuts (there aren’t any).

This is why. The RATS know that the economy is headed south in a big way, and they are positioning themselves to be able to blame it on “Republican cuts”.

[freeangel]

Hey, Durbin—if it upsets you so much then don’t vote for it. I won’t hold the no vote against you.

[TheOldLady]

Click the Dice!

Don't Gamble With Free Republic's Future

Give what you can
Or donate monthly, and a sponsoring FReeper will contribute $10
Become a sponsoring FReeper – Contact TheOldLady

[lurk]

Keynes and his radical peers from that era deserve the deepest eternal shame.

He and his fraternity of too-clever-by-half humanists are worthy of having their bones put into a public urinal to be targeted for continual desecration.

[Terry Mross]

Duck Durbin said “The Republicans are killing Keynesian economics with their attempt to cut spending....”

Where did he get the idea that spending is going to be cut?

[griswold3]

That’s something to celebrate.

[beethovenfan]

It’s about time to get rid of that fairy’s theory.

[fatez]

Keynesian economics died by a Kenyan, how ironic...

[normy]

The rats are too stupid to know such a thing. They live in an alternate reality. The truth is they “think” the economy will go south because they “think” this is bad economics. It's not and the economy will probably start a slow move up. Of course then Obama will take credit, but we won and I can't wait until the Senate races start. Boy do we have fire power for the Dem incumbents.