The Keynesian is back: Last night, instead of devoting paragraph - TopicsExpress

The Keynesian is back: Last night, instead of devoting paragraph after paragraph to America’s debt, Obama quickly doffed his cap to the importance of bringing down our deficit in a balanced way, and then pivoted hard. Now that congress had finally produced a budget, he declared, politicians were freer to focus on creating new jobs. And that’s exactly what Obama did. He didn’t just devote more time to subjects he had touched in on years past: making pre-K universal, raising the minimum wage, supporting manufacturing, building an infrastructure for clean energy. More importantly, he didn’t undermine those calls, either rhetorically or substantively, by also promising to freeze or slash government spending. It was as if the politics of austerity had suddenly ceased to exist.

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