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Debating Keynesian Economics with Robert Reich on CNN

Bill94 Wrote: Jun 14, 2012 11:10 AM

The proof Reich is wrong is simple. If govt spending created prosperity, there would be no poverty in the world. Economics would be a simple thing, just have the govt spend more until things are better. Since this does not work, it is obvious Reich is wrong. If govt spending created prosperity, we would all be socialists. If govt action created fullfillment, we would all be communists.

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RayTheAnarchoCapitalist Wrote: Jun 14, 2012 9:42 PM

The government is already stimulating the economy to a tune of 3.5 trillion per year (and growing). How come the economy isn't flourishing?

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Debating Keynesian Economics with Robert Reich on CNN

It seems that any argument about the economy eventually boils down to the core issue of whether government spending acts as a stimulus or whether it is – in the words of Thomas Sowell – a sedative that undermines prosperity.

So when Robert Reich and I went on Erin Burnett’s CNN show to discuss Obama’s stumbling economic performance, much of our discussion focused on whether to further expand the burden of the public sector.