If we had a decent education system articles like this would be a lot less critical. From the Peter Ferrara at the Heartland Institute:
Let’s proclaim the Good News: Government money is free. No, not just to the beneficiaries of government programs. To society as a whole. Meaning there is no economic cost to government spending whatsoever. The more the government spends, the richer we will all be. Let the Good Times roll.That is the foundational principle of Keynesian economics, which is heart and soul “Progressivism.” Every Paul Krugman column can just be replaced by the summary paragraph above.
Money doesn’t grow on trees, you say? That outdated notion is where you went wrong. Today’s paper money IS trees.
The liberal left wing that dominates the Democrat Party today so can’t stand cutting just 1% to 2% of federal spending, just from the growth in spending, as provided in the sequester, that they are saying that the sequester spending cuts involve “austerity,” which, they claim, is slowing economic growth, jobs, and the non-existent recovery. This is based on the failed, discredited, outdated economic doctrine of Keynesian economics, which holds that economic recovery and growth is restored by increasing government spending, deficits and debt. This supposedly increases “aggregate demand,” which supposedly stimulates increased production, and hiring, to meet that demand.
