Keynes advocates government spending in recessions to offset the decrease in demand from the private sector. Keynes also advocates the paying down of government debt during good times in the public sector. During the last 40 years our politicians were happy to take credit for the government picking up the slack in slow times and reluctant to go to the voter in good times and say it was time to pay back the money Uncle Sam spent to spur the economy during the recession.
It is time for the politicians to go to the woodshed and admit their errors. It is not time to compound the consequences of these errors when our economy is in disarray and facing our stiffest competition since World War II. Stretching out the time period to get our debt under control from 10 years to a 15-20 year time frame gives future generations a chance to experience the same prosperity we have.