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Did Obama Just Throw Keynes Under the Bus?

Posted on February 11 2010 8:30 pm
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by Benjamin Shapiro

Today, President Obama made the most stunning remarks on the economy he has made during his tenure:

“For growth to be truly sustainable — for our prosperity to be truly shared and our living standards to actually rise — we need to move beyond an economy that is fueled by budget deficits and consumer demand,” the president said.

“In other words, in order to create jobs and raise incomes for the middle class over the long run, we need to export more and borrow less from around the world, and we need to save more money and take on less debt here at home.”

This is an incredible admission from the nation’s leading advocate of inflating and spending your way out of recession. Keynesian philosophy, in a nutshell, suggest that budget deficits and consumer demand are the only way to get us out of recession.


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