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Report Comment
"As points of fact.
Ted asserts that Obama has already agreed to make concessions and that only he has been willing to compromise. Fact: As of July 27, the president has not presented even a single plan, proposed bill or a roadmap, and his willingness to "dismantle" Social Security and Medicare appears on not one single document, nor has he even presented any baseline ideas of how the govt. might do that.
Secondly, Ted writes"Read your Keynes: governments are supposed to spend their way out of downturns, and pay down debt during upswings." Should we also read Mein Kampf to determine the best policies for leadership? Keynesian economics has failed in every single occasion in history it has been adopted. The best lab test-like environment was postwar Germany because economically it was wiped virtually clean at the time. The Allies placed in charge of Germany's economy a group similar to those in the White House today. Keynesians, no real world experience, entirely academic and generally in favor of the left-wing fascism popular in academic American circles then and now. Their top-heavy, government-controlled implementation was a spectacular failure that produced a far worse German economy than the one that had promoted the rise of the Nazis. The Germans had to utterly reject and expel the high-brow Allied Keynesians, push to actual free market economics before the German economy recovered. Japan's "Lost Decade" is another example of what happens when a nation attempts to spend its way out of a recession. This is easy history to research as is the failure of Keynesian economic policy all over the world.
On the other hand, an example of this economic philosophy working doesn't exist."
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