Most Americans Reject Witch Doctor Economics
Good news for the weekend: according to Rasumssen, the majority of Americans, across all political spectrums, disagree with Keynesian economics (or as I prefer to call it "Witch Doctor Economics.")
Americans Reject Keynesian Economics
"Richard Nixon once said, “We’re all Keynesians now.” But that was a long time ago, and it’s certainly not the case anymore (if it ever was).
While influential 20th Century economist John Maynard Keynes would say it’s best to increase deficit spending in tough economic times, only 11% of American adults agree and think the nation needs to increase its deficit spending at this time. A new Rasmussen Reports national telephone survey finds that 70% disagree and say it would be better to cut the deficit."
Richard Nixon was an idiot, a traitor, and a crook, so it's not surprising that he would fall in love with the Witch Doctors.
"Rejection of Keynesian economics is found across demographic and partisan lines. Republicans and those not affiliated with either major party overwhelmingly reject the notion that increasing the deficit is the right prescription in difficult economic times. Among Democrats, 21% agree with the Keynesian approach, and 47% do not.
Investors reject deficit spending even more strongly than non-investors."
Well, except a couple of so-called "investors" at CAPS, who constantly whine about how anti-Keynes everyone is around here.
"However, all polling on federal spending and deficits must be viewed with the recognition that only 35% of voters realize that the majority of federal spending goes to just defense, Social Security and Medicare."
Yes, it's true. Our government cares most about killing poor people overseas and subsidizing poor people at home. Strange, eh?
Ok, I'm out for now. Enjoy the Super Bowl. I hope to hit y'all up with a post about my travels in India very soon.
David in Bangalore