The Keynesian thought patten, writ large

Jking8767 — Sat, 08 Dec 2012 16:16:23 +0000

Let’s get one thing straight: America is not facing a fiscal crisis. It is, however, still very much experiencing a job crisis. In fact, of course, it’s just the opposite: The danger is that the deficit will come down too much, too fast. And the reasons that might happen are purely political; we may be about to slash spending and raise taxes not because markets demand it, but because Republicans have been using blackmail as a bargaining strategy, and the president seems ready to call their bluff.

Free Talk Live - paul krugman

The Keynesian thought patten, writ large