In response to:

Is Anybody Surprised that Krugman Was Wrong about U.K. Fiscal Policy?

SdAufKla Wrote: Jan 24, 2013 11:09 AM
Timgabz: "Keynesian policy is very valid." Keynesian economics are based on the fundamentally flawed belief that governments create wealth by controlling the amount of currency in circulation. This leads to the false belief that governments can never spend too much since they can always just create the additional currency needed to pay off their debt. All of the Keynesian spending and growth policies only ever give the appearance of working by extorting wealth from the productive and borrowing. Keynesian economics is the greatest Ponzy scheme ever crafted.
Earl29 Wrote: Jan 24, 2013 2:32 PM
Govenment doesn't make money; it just takes money.
Just about the only thing Keynes got right--tax cuts are stimulativer--is the only thing his followers won't do.
George257 Wrote: Jan 24, 2013 4:54 PM
The idea is to save during a boom so you can cut taxes and spend during a recession - and not have to borrow. Saving is the one thing libs wont do. There are no votes in it.

Just like in the United States, politicians in the United Kingdom use the deceptive practice of “baseline budgeting” as part of fiscal policy.

This means the politicians can increase spending, but simultaneously claim they are cutting spending because the budget could have expanded at an even faster pace.

Sort of like saying your diet is successful because you’re only gaining two pounds a week rather...