Saturday, October 11, 2008

Conservative pundits for Keynesian solutions

In A Bailout For The Middle Class, Ross Douthat approvingly quotes another conservative who is advocating, in part, that the federal government stimulate the economy (and the middle class, particularly) to get us out of the looming deep recession. Part of the solution? A significant federal investment in infrastructure. It's refreshing to see people on the right arguing for a federal role, and arguing for something other than budget-balancing. While the latter is important and desirable, in the current crisis, it seems foolhardy. Add to that the dire situation of our public infrastructure -- roads, bridges, mass transit, etc. -- and a Keynesian solution of deficit-spending that pumps money into the economy while also delivering public goods (instead of just paying the next month's grocery bill) seems to make a lot of sense. If other conservatives share this view, then the next president should have an easier time of getting broad public and political support for such measures.

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