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View Diary: UK 'Triple Dip' is latest blow for Reinhart-Rogoff austerity crowd (11 comments)

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  •  "It's the economy, stupid" (3+ / 0-)
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    Azazello, golem, Calamity Jean

    Not the debt. The economy.

    Stimulate the economy (through deficit spending) and people aren't unemployed and they make money and they pay taxes. Then, when the government is taking in more money (in taxes, from people who are working), they can reduce the debt.

    Keynes figured this out 80 years ago.

    This austerity bullshit is promulgated by rich people (who want lower taxes) and libertarians (who want to shrink government at all costs).

    "Stupid just can't keep its mouth shut." -- SweetAuntFanny's grandmother.

    by Dbug on Wed Apr 24, 2013 at 09:52:05 PM PDT

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