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Weaponized Keynesianism
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by Rory Cripps | September 10, 2012 at 03:17 am
262 views | 4 Recommendations | 8 comments
There are many, many, inconsistencies in the Republican Party's economic claims and purported fixes. One glaring inconsistency is the Republicans' claim that Keynesian economics, in the form of fiscal stimulus, doesn't work. However the Republicans have been implementing Keynesian policy for decades in order to stimulate the economy. Particularly in regard to throwing the tax payers' money to the defense industry.
And as Paul Krugman points out in his New York Times piece, Obstruct and Exploit, Romney and the rest of the Republicans claim that "government spending can’t create jobs unless the money goes to defense contractors." Government spending is government spending by any other name. And don't kid yourselves. It all trickles down at some point to the "private sector". Whether it's to defense contractors or any other "private" firm that sells goods and services to the government.
The biggest laugh is that defense contractors are "private" and "free market" firms. Indeed, defense contractors along with banks, etc. essentially receive billions in taxpayer-funded corporate welfare and were it not for the U.S. Government redistributing taxpayer monies to those industries, many, of not most, firms that make up those industries would be out of business. In a sense, it wouldn't be too far off the mark to say that many folks who work in the defense industry, the banking industry, etc. are on welfare. And the only difference between them and those receiving Medicaid and food stamps is the dollar amount of their welfare checks.
But you see, the Republicans have millions of dupes convinced that the welfare policies which they implement are not welfare policies at all, because they implement those policies under the smokescreen of the "free market" . . . .
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Most RecentMost Recommended Comments (8)
at 06:06 on September 10th, 2012
How about the billions spent by Democrats to buy votes through social engineering such as welfare, food stamps, HUD, CRA which caused the real estate bubble and banking crisis, how about sending foreign aid to nations at odds with the US? Maybe if we didn't have so many terrorist organizations that were linked to such supposed advocacy groups such as CAIR we wouldn't need so much military spending.
Paul Krugman is a damn idiot, big government big spending advocated how did this bastard every get a college degree just another Obama lap dog!
Try to make an article that is justified with facts instead of opinions.
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"thirty-aught-six" (not verified)at 06:25 on September 10th, 2012
Paul Krugman is nothing more than a shill for big government and his attacks on Republicans is a joke. Exceedingly hypocritical at that, considering the Democrats past four years of choosing winners and loser from the private sector to bail out, or to openly support/fund with tax dollars.
If you were honestly seeking to understand the governments role in defense spending you wouldn't be equating Republican support for the defense industry as support for Keynesian economics anymore than support for tax paid entitlements are Keynesian economics.
You have to start at ground zero, which is government dictating the defense industries restrictions vis a vie the fee-market, and government procurement cycles. The government, by keeping the defense industry from the free market is to hold them "hostage to government" [funding] in perpetuity.
This system of "hostage to government" is government policy. Not political party policy. Now if the government allowed the defense industry to sell their products on the open market and it was still Republican policy to support defense industry with tax dollars then you would have some thing to base your accusation on.
As it is your equivocation is nonsense and shows a lack of understanding in terms of how the US defense industry works relative to production/employment and sales metrics. As it stands, your article should be directed at the Democratic Party who have actively inserted themselves into the economy through government intervention and policy to the tune of some 500billion in 2010 alone. Pure Keynesian. Return on investment? 8.5% unemployment for 42 straight months with a real unemployment recorded hovering around 16%. And Obama's 53% increase in public sector jobs with accruing wages/benefits/ pensions isn't doing anything to offset the taxpayers' burden. Now or in the future.
Dupes? Look in the mirror. You are accepting some jack azz's nonsensical equivocation, and supporting it as your own, with out investigating what underlines the government funding of the defense industry to begin with.
at 06:34 on September 10th, 2012
LOL! Thanks for your comments!
at 06:42 on September 10th, 2012
BTW: When I have time, I'll respond to Doc's comments. As to "thirty-aught-six" (not verified), I dismiss him or her as just that--not verified.
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"thirty-aught-six" (not verified)at 08:29 on September 10th, 2012
I suppose "dismissing" me releases you from struggling against your own cognitive dissonance. I'll limp away knowing I was so brilliantly challenged. Republicans this Republicans that. LOL.
at 07:26 on September 10th, 2012
Republican good! Democrat bad! Duh duh! Duh duh! Duh duh! RAH RAH RAH! Sis Boom BAh! JEEZ!
at 09:18 on September 10th, 2012
"thirty-aught-six" (not verified): I'll say this: You sound completely naive and indoctrinated. You've been posting on this site for quite a while as non-verified. What that tells me is that you're an anonymous punk who's afraid to reveal his true identity because you like keeping your bread buttered. I'm not going to waste my time with a mind-numb robot like you. You're the kind of jackass that thinks the financial and mortgage crisis was the result of the government forcing banks to give mortgages to black folks that couldn't afford the homes they bought with those mortgages. So take your "cognitive dissonance" and your "conservatism" and shove it up your ass and please refrain from commenting on my posts.
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"thirty-aught-six" (not verified)at 13:00 on September 10th, 2012
WOW. I had no idea that being 'verified' gave one the license to be a ignorant douchebag! It's a shame that in order to switch Party's you felt you had to jam an ice pick through your frontal lobotomy and give it a good twist. Speaking of robots. I don't know what grade the Party is going to give you? But I give you an A+ there R2. You have the unwarranted belligerence down pat. Good luck with that.
P.S. No I don't think that those who bought homes they couldn't afford led to the financial crisis. Though I do think that that thinking is a reflection of the larger issue concerning the credit crisis and national debt.
The last refrain from this independent.