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During the Rep. Nancy Pelosi’s (D-Calif.) tenure as speaker, which commenced on Jan. 4, 2007, the federal government has run up $5.177 trillion in new debt. That is about equal to the total debt the federal government accumulated in the first 220 years of the nation's existence,
Originally posted by beezzer
Keynesian economic theory is basically spending your way our of a crisis.
Someone please correct me if I'm wrong, but that's the concept as I understand it.
Exactly. Governments taking the money out of the productive sector of the economy and wasting it as they have does us all no good.
Originally posted by Romekje
Originally posted by beezzer
Keynesian economic theory is basically spending your way our of a crisis.
Someone please correct me if I'm wrong, but that's the concept as I understand it.
Ur right but it's the consumers that have to do the spending, not the governments.