[Parmy]

If that is the actual result, then let's not hesitate. This economic theory has failed time after time. There is nothing better than old-fashioned balanced, budget money management.

As Coolidge said. Paraphrasing: An economist looks at reality and tries to find a theory to fit.

[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.

[L,TOWM]

The problem with the Keynesian economics is that the implementation is only done halfway. The actual theory calls for deficit spending to stimulate demand during times of demand slack — the vote whores have that part down pat. What they do not do is the flip side of what Keynes called for — PAYING DOWN what the government borrowed during times of excess demand.