By Lawrence Summers
Critics have complained that the continued commitment by the administration of President Barack Obama to support recovery in the short term and also to reduce deficits in the medium and long term constitutes a “mixed message”. In fact, it is the only sensible course in an economy facing the twin challenges of an immediate shortage of demand and a fiscal path in need of correction to become sustainable.
Most economists across a broad spectrum would likely agree to three basic propositions about fiscal policy.
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Hey somnolent punk Summers. Your Keynesian crap doesn't sell well anymore.
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