The caricature of what George Osborne is doing on the fiscal side is absurd. If you read some of the commentary, particularly from the left, you would think he was turning the clock back to the 1930s.
Sentiment: NEGATIVE
I hold no candle for George Osborne whatsoever. He has no strategic skills, is a hopeless chancellor, has no idea how most people have to live and his policies are failing and hurting millions.
Keynes's contribution was not just to advocate spending government money in the middle of a recession. Every government had done that going back to the days of the Irish potato famine. What he gave to us was a way of thinking about the magnitude and the dimensions and so forth.
Fiscal policy is not just, or even not even principally, the purview of the president.
The 'fiscal cliff' is a ruse, an invention by the right and the rich, to try and keep their huge tax breaks.
Obama is not only obstructing budget reform; it's almost as if he is trying to make matters worse.
Fiscal discipline can turn the economy around.
When Mr. Obama entered office, he said all the right things about getting Washington spending under control. He even promised to cut the deficit in half by the end of his first term. Obviously, that didn't happen.
Popular as Keynesian fiscal policy may be, many economists are skeptical that it works. They argue that fine-tuning the economy is a virtually impossible task, and that fiscal-stimulus programs are usually too small, and arrive too late, to make a difference.
Simply looking at the status quo and suggesting that the tax code is sacrosanct and can never change, and that decisions made in the '80s and '90s can never change, is absurd.
I like Mitch Daniels on the fiscal conservative issues. You disagree with him on this idea that social issues, you takeoff the table. I do that for two reasons. I think the fiscal issues in a sense are a symptom of a lot of the deeper cultural issues in America. I don't think they are as disconnected as he thinks.
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