Monday, October 13, 2008

A Historical Perspective

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If you look at the debt level through Eisenhower and after Eisenhower, you will see the influence of John Maynard Keynes "General Theory" on the policies of U.S. Presidents, Senators and Congressmen. It comes as no surprise that the debt started rising during the Kennedy Administration, as he was the first President known to have embraced the "General Theory." It was Richard Nixon who once declared "We're all Keynesian's now." As Congress approves more and more spending, and Presidents sign the spending bills, it is no wonder we are in the mess we're in.

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