Thursday, January 28, 2010

Obama's Spending Contradiction

I really don't agree with left-liberal Keynesian Brad DeLong on much, including on the issue of whether government spending should be increased or not, but he is right when he points out that Obama contradicts himself when he A) Says his policies aims to create more jobs B) Says that the spending increases in the stimulus package created jobs because the economy operated under less than full capacity C) Says he wants to freeze some spending when the economy will still be operating under less than full capacity.

You can believe in both A) and B) at the same time, and you can believe in both A) and C) at the same time and you can believe in B) and C at the same time, but you simply can't believe in A), B) and C) at the same time.