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The Keynesian thought patten, writ large

http://www.nytimes.com

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.

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Jking8767's picture
Created by Jking8767 1 year 18 weeks ago – Made popular 1 year 18 weeks ago
Category: Economics   Tags:

I don't really understand how

dumthumbs 1 year 18 weeks 1 day 5 hours ago

I don't really understand how dropping the deficit too fast can be a bad thing. I've never heard that before. Is he correlating a drop in the deficit to less spending on entitlement programs?

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