Tag Archive: ARRA

May 04 2013

President Obama’s Austerity Does Not Make Him a Keynesian

It’s really sad it has come to this. There are many people that have jumped to branding President Obama as the second coming of famed economist John Maynard Keynes in what has become a rather sad attempt to deflect his austerity along with the deficit hysteria he preaches on a daily basis. Some people pretend the sequester he and Gene Sperling wrote along with putting chained CPI on the table(cutting seniors income) in order to get out it somehow “makes Obama a textbook Keynesian.” Nope.

It doesn’t take a lot of effort to know this is false.

“The boom, not the slump, is the right time for austerity at the Treasury.”

– John Maynard Keynes (1937) Collected Writings