The More Things Change The More They Remain The Same

SEE HERE The notion that government spending can move an economy out of recession has a long and dishonorable history starting with its use to extend the Great Depression. One of the problems we face is that governments like to spend money and this phony theory amounts to just a cover to give governments permission, indeed make it a virtue, to spend like drunken sailors to extend their control and power on the back of the public debt. It didn't work to get us out of the Great Depression, in fact it extended the depression. It isn't going to work now either. You have to say that those who refuse to learn from history are doomed to repeat it.