- Joined
- Jan 28, 2012
- Messages
- 16,386
- Reaction score
- 7,793
- Location
- Where I am now
- Gender
- Male
- Political Leaning
- Independent
Deficit spending up until WWII was minimal at best, and can be mostly attributed to a deteriorating tax base as aggregate income was nearly cut in half by 1933. There is not a cookie cutter definition of Keynesian macro policy. Yes, deficit spending is essential, but closer observations must be made in order to dissect how income dynamics impact the tax base. Simply pointing to the existence of deficits (in and of themselves) does not support your argument.
Deficits that from FY1932 until FY1940 averaged over 3.6% of total G.D.P. (or today would be a $566 billion dollar deficit) are 'minimal' to you?
Once again, okaaaaaaay.
Last edited: