Reagan the Keynesian

Paul Krugman is right on the mark with this:

“If you actually look at the actual track record of government spending, government employment, Reagan is the Keynesian and Obama — mostly because of political constraints, although a little bit of lack of conviction on the part of his own people — has been the anti-Keynesian,” Krugman said. “He’s been the one who’s been doing what Republicans say is the right answer.”

Just over three years into Reagan’s first term, government jobs grew by 3.1 percent; at the same time during Obama’s tenure, they’ve been cut by 2.7 percent. Hundreds of thousands of public sector jobs have been shed in recent years. Government jobs also grew under President George W. Bush, which helped keep unemployment down during most of his two terms.

What's truly remarkable here is that Republicans and Reagan acolytes are saying the exact opposite. President Obama is the big spender, and Reagan was the fiscal hawk. And people, including the press, are buying the lie.

  • D_C_Wilson

    But. . . but . . . Reagan cut spending and Kenyanradicalsocialistspender!

    Bottom line:

    Republicans only give a shit about the deficit when a democrat is in the White House.

  • Ned F

    That’s because Reagan was “The Most Greatest Conservative ever”, and even though Duck Cheyney decreed “Reagan proved deficits don’t matter”, everyone just knows that government has grown four times its’ size under the Obama presidency despite all evidence to the contrary. Besides, numbers are really boring and make for lousy news.
    Add to that the event that happened on Sunday where the journalists and congressional scholars, Mann and Ornstein, finally got on a news show to discuss their article and book written 30 days ago about Republicans being the main obstacle to progress in Washington, and despite being the goto guys for reasonable, non partisan, political analysis, were totally ignored. Of couse it was on Chris Hayes’ show, UP, on MSNBC. Therefore wasn’t seen by more than 200 people. Little wonder why voters are so uninformed.

  • i_a_c

    Reagan was a Keynesian to the extent that he poured billions and billions of dollars into the black hole that is the defense industry. That isn’t getting the most bang for your buck, but virtually any kind of government spending works as stimulus.

    Say Money wins the election. He and the Republicans will forget all about “fiscal responsibility” and do some kind of stimulus as soon as the Kenyan Muslim is gone. It will probably be the shitty kind, like tax cuts and defense spending, but as we know, Republicans never really cared about fiscal responsibility.