Galbraith: Government Spending Is the Solution, Not the Problem

"When people are starving, it is because their government takes too much, Causing them to starve." Tao Te Ching 75

This guy's screwy logic is amazing. And then he has the balls to say others should NOT be listened to!? All that government spending sucks capital (i.e. money) away via taxes and bonds from legitimate economic activity. Then creates massive amounts of new dollars, which IS inflation. And then he ties the argument into the bogus "global warming" scare. This is the guy described in 1984 and Brave New World.

Typical Keynesian nonesense.

as China struggles because the US is spending huge amounts of Yuan as USD.

Government spending needs to be curbed. DEFICIT government spending is just plain wrong and unnecessary. Has anyone in a government job (excluding military) taken a 10% pay cut recently? How come the Post Office keeps delivering mail six times/week when we only need it 3-4? Congress doesn't have the balls to cut government waste...that's where the problem is.

This guy is a professor? Seriously? No wonder our schools fail. I'm a moron & seem to have a better grip on this & reality for that matter then this guy. UoT needs a new professor.

A Democrat who wants to continue bloating the deficit to unfathomable levels and have the national government drive innovation, if it can be called that in this type of system...wow, what a bold new angle to take.

Galbraith is an embarrassment. Stay in academia you liberal loon.

Obama has land the O BOMB on our country!

There are 34 million people on Food Stamps... mulitply that by 2 feet to 68 million, to make a single file line of the people and then devide by 5280 feet (number of feet in a mile) you will find out that we have 12000 (yes 12000) miles of people in a FOOD STAMP LINE.... that is one hell of a Soup Kitchen line..... THIS IS A DEPRESSION... THIS IS NOT A RECESSION. THE ONLY DIFFERENCE IS THAT THE GOV. IS GIVING OUT FOOD STAMP INSTEAD OF SOUP.

Yippie! Government spending saved the day. Just run up the deficit even higher and don't worry about paying it back.

What an educated idiot! How does one get out of debt by going deeper into debt? We need less government spending and more individual saving that will encourage businesses to borrow, expand and produce.

The guy's a left wing socialist nut. Switch to the "fair tax" and companies would be bringing their manufacturing back to the U.S.. We need the manufacturing base in this country for Americans to take care of themselves not the elite left wing. This guy adds nothing to America, but thinks he does with his Socialist agenda through huge growing government....as long as he thinks "he" is one of the elite.

We need to let go of this ridiculous idea that we can't allow our economy to have periods of pullback and consolidation. It's economics 101: The law of diminishing returns. Nothing can circumvent the regression back to the mean. We're just causing more issues for ourselves by trying to avoid it. We need to get off our high horses and stop trying to be the "invincible economy" that is somehow supposed to be above basic economic principles.

Have they ever taken the stimulus back out after previous crashes or have they just left it in there?

Big Govt spending is not the answer. Free enterprise is. The Govt cannot spend the money it does not have. The same goes for the individual consumer. Get with it, this Govt spending is wrong.

Lot's of critics, but no one answering the main question.....if gov isn't spending, then who would be? A year ago I was worried that my ATM would still work, we have pulled away from the brink. Now is not the time to start to wind down stim programs....unemployment still too high.

This clown is a professor of economics and he doesn't know the answer to his question is when private capital is put to work to make a profit? I guess he also doesn't know then that the policies of the current administration discourage people from putting private capital to work and therefore are causing economic slowdown?

And why does this guy have any credibilty? Because he got a PhD from Berkley?

Aaron - keep these academia where they belong - in the classroom talking about therotical situations. All of these academia are irrelevant to the real world.