Via John Fleck I come across the American right's List of Evil Books. Fairly predictable list, but notable for one wonderful piece of logic, discussing Keynesian economics:

"When the business cycle threatens a contraction of industry, and thus of jobs, he argued, the government should run up deficits, borrowing and spending money to spur economic activity. FDR adopted the idea as U.S. policy, and the U.S. government now has a $2.6-trillion annual budget and an $8-trillion dollar debt."

Ah, yes, FDR is single-handedly responsible for the American budget deficit. Odd how Reagan and Bush Sr., who both presided over huge rises in said deficit (I think it tripled under Reagan) by cutting taxes while increasing defence spending, don't get a look in...


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