Word: keynsian
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Dates: during 2000-2009
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...details. There are early indications that Obama will have to sacrifice more of his own "worthy priorities" to maintain a responsible budget. For weeks, Obama's economic advisers have been repeating the mantra that times of crises are times of opportunity. It is a thesis well founded in Keynsian economics, since the federal government has great incentives to stimulate the economy by taking on more debt during downturns. About a month ago, a senior administration official explained the dynamic this way. "It's actually easier to do expansive economic policy in a recession," the official said, in a statement that...
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