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On. this week the imf actually urged the british government to delay its plans to cut spending and raise taxes and instead to borrow and spend money on infrastructure. i think the data now is increasingly convincing that the keynesians have been right. cutting spending in the kind of recession we've gone through will only hurt growth, not help it. since i have been long advocating large investments in areas like infrastructure, job training, and science, i'm delighted. and yet it's too soon to celebrate. because spending on its own is not enough either. in order to ensure sustained growth in t...

I think the data now is increasingly convincing that the keynesians have been right. cutting spending in the kind of recession we've gone through will only hurt growth, not help it. since i have been long advocating large investments in areas like infrastructure, job training, and science, i'm delighted. and yet it's too soon to celebrate. because spending on its own is not enough either. in order to ensure sustained growth in the long run, countries also need to engage in what economists call structural reforms, lowering tariffs, opening up protected industries, making it easier for new busin...

You believe what we post on the blog influences washington at all. we ran around with it. i think two things are going on. one is that the politics of this on the right are not really all that deficit focused. the republicans believe in deficit reduction to the extent that it corresponds and offers a cloaking device for other significant republican goals. >> like cutting spending for instance on the part of the budget they have been cutting spending sfwlon you can't even say just cutting spending, you have to say cutting spending potentially on medicare and for the poor and discretionary progr...

Deficit reduction to the extent that it corresponds and offers a cloak device for other significant republican goals. like cutting spending, for instance, on the part of the budget that they have been cutting spending on. >> you can't even just say cutting spending. you have to say cutting spending potentially on medicare potentially in the long term and really cutting spending on programs for the poor but they don't want to cut spending on defense if they can help it. their budget doesn't cut spending on social security. and back in the day paul ryan in the bush years voted for policy after p...

Great, they're cutting spending, oh, getting rid of that waste. you know how it works. >> it's easy, the right's done this for decades. to dem crate government, but what you've done, chris, is is to show meals on wheel, treatment for cancer patients, head start, there are kids being thrown out, who are already in head start -- >> tell me about head start. what it does. >> a preschool program. >> disadvantaged kids. >> i know the difference from the kid who comes into kindergarten with some cools versus a kid who doesn't. it's really unfair. yet, here they are, throwing kids out. parents are cr...