Dealing With Boom and Bust

The Keynesian economists explain the way to flatten the economic cycles is to reign in spending and pay off the debt in the good years and run a deficit to stimulate the economy in the bad. Oddly, American politicians like to do the opposite. They spend extravagantly in the good years and ruthlessly cut spending in the bad. This is because they are trying to gain short term political points rather than actually smooth the humps in the economic cycle. The result is a super-nasty recession-depression as the USA is stuck in now.

~ Roedy (1948-02-04 age:69)