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All Keynesians Now?



        McCain said if the economy declines, he will reverse
        course on paying down the national debt. He will ask
        for lower marginal income tax rates and a lower capital
        gains tax. He will spend more federal dollars to stimulate
        the economy.  Meanwhile, until such decline, he favors
        only a modest tax cut and a conservative approach to
        spending to allow pay down of the national debt and
        lower future interest costs and rates, in the interest of
        protecting social security and medicare.

        Does this mean that all four candidates are Keynesians?
        At least as much as Nixon was? He dumped the gold
        standard and once imposed price control -- remember.

            John Gelles




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