Re: Lieberman on economics

["William F. Hummel" <wfhummel@xxxxxxxxxxxx>]

On Thu, 21 Sep 2000 10:36:27 +0200, you wrote:

>Peter Dorman wrote:
>>
>> I noticed a short piece in the NY Times today in which Joe Lieberman
>> denounced Bush for his lack of understanding of economics.  Bush's
>> failure, in JL's view, was his statement that he (Bush) would be
>> willing to cut taxes and raise fiscal deficits during a recession.
>> According to JL, this reveals ignorance.  Rather, during a recession,
>> the most important thing is to balance the budget at all costs, so
>> that interest rates don't rise!
>
>I've been warning for this. Time to take the threat of federal fiscal
>prudence under a Gore administration seriously, right?
>
>> Now, I realize that mainstream economists have been drifting steadily
>> toward the Treasury View over the last few decades, but I doubt
>> they've gone that far.  Even if you slept through Econ 101 you would
>> probably know that Lieberman is talking nonsense.
>
>You want trouble in the next recession? Vote Gore. With him in the White
>house, once the US economy hits the next recession you'll see your
>government ad insult to injury with spending cuts and tax hikes because
>IT WILL BE SEEN AS A VIRTUE to do precisely that. Voters are going to
>like it if they know of nothing else. And who's gonna tell'em...?
>
>Darn Keynesian,
>
I agree with your concerns, but who would you vote for instead?
Surely not the least qualified candidate since Alf Landon!

William F Hummel