The Return of Reckless Keynesian Economic Policy

International Liberty

Trump was a big spender before coronavirus and he became an even-bigger spender once the pandemic began.

But the White House generally didn’t add insult to injury by citing Keynesian economic theory to justify the president’s profligacy .

Prior to the pandemic, the excuse was that more money was needed for defense and that required (from a political perspective) more money for domestic programs.

And once the coronavirus hit, the excuse was that people and businesses needed to be compensated because of government-mandated lockdowns.

I thought the pre-pandemic excuse was pathetic and I’ve been skeptical of the post-pandemic excuse (why, for instance, are bureaucrats getting checks when their comfy jobs aren’t at risk?).

Well, Trump in on the way out and Biden is on the way in, which means one big spender is being replaced by another.

But there will be one difference, at least stylistically.  Biden will copy…

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