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Deficit Logic

January 31, 2009

I recently viewed a comment by Dave Ramsey that made complete and total sense concerning our current economic efforts to revitalize the economy. 

“Debt started the problem, so what is the current plan to fix the problem? More debt!”

I understand that the theory of deficit spending is based in the economic philosophy of John Keynes, and that the basic idea is to pay it back when things are going well.  But…

What kind of reasoning are we implementing when we propose that the solution to debt is more debt?

Buck

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