Mitt’s Keynesian Slip

In Mark Halperin’s recent interview Mitt Romney, blatantly undercuts the anti-Keynesian line that he and other Republicans have been pushing for the past couple years.

Halperin: You have a plan, as you said, over a number of years, to reduce spending dramatically. Why not in the first year, if you’re elected—why not in 2013, go all the way and propose the kind of budget with spending restraints, that you’d like to see after four years in office? Why not do it more quickly?

Romney: Well because, if you take a trillion dollars for instance, out of the first year of the federal budget, that would shrink GDP over 5%. That is by definition throwing us into recession or depression. So I’m not going to do that, of course.

This deviation from orthodoxy has provoked no outrage on the right, which to him is further proof of just how cynical the Republican anti-Keynesian stance really is.

via Alec MacGillis: Mitt’s Keynesian Slip: Not The First Time | The New Republic.


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