Holy mackerel! Bruce Bartlett, economic advisor to Ronald Reagan and George H.W. Bush makes a surprisingly strong case for Keynesian fiscal stimulus. He also says that, between Obama and Congress, it’s never going to happen. He dismisses the idiocy of regulation as causing the lack of aggregate demand.
“We should be borrowing like mad.”
“We should be spending more in the short run…”
This is an excellent response to the people on CNBC. I think they were rather shocked at his response and showed it. This is better than getting a Fox idiot because these people are supposed to be “smart” about the markets etc.