Trump to follow Obama’s example on economy

By Philip Wegmann – Keynesian economics came into vogue around the time of the Great Depression. The theory teaches that market depressions are the result of a spending deficit which can be remedied by government stimulus. As if the economy was a massive engine, the theory prescribes kick starting the machine with government spending to get it moving.

It’s clear the New York businessman finds the idea, or at least the vocabulary, of the theory compelling.

And to get the huge gains he wants, Trump plans on following his predecessor’s example.

Obama brought Keynes into the Oval Office and began priming the nation’s economic pump in 2009. He quickly signed the American Recovery and Reinvestment Act, a stimulus package with a $787 billion price tag. Later that Summer, he followed up with the $3 billion Cash for Clunkers program to subsidize the purchase of more fuel efficient vehicles.

It was textbook Keynesian economics and the Trump administration appears ready to follow suit with only a few differences. more> https://goo.gl/v19ssT

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