Hot Air: Merkel says EU will “swiftly” end stimulus programs, focus on debt
Economic theories at odds with one another.
Friedrich A. Hayek, author of The Road to Serfdom, advanced the theory Ronald Reagan used.
John Maynard Keynes advanced the theory Barack Obama is using.
As you can see by the headline above, the EU has been using the Keynes theory for some time (Greece!) but they have discovered it leads to destruction. Mr. Obama intends to continue using Keynesian economics in the United States.
I have previously posted the rap video below but thought it was time for a refresher due to the topic at hand. If you have trouble understanding the lyrics, click here.