"Weaponized Keynesianism"

“These arguments will come from the very people who denied that the economic recovery plan created any jobs. We have a very odd economic philosophy in Washington: It’s called weaponized Keynesianism. It is the view that the government does not create jobs when it funds the building of bridges or important research or retrains workers, but when it builds airplanes that are never going to be used in combat, that is of course economic salvation.”

-Rep. Barney Frank (D-MA), responding to the newly-minted fiscal scolds who moan from one side of their mouths that cutting production of new jet fighters–planes that even the Pentagon doesn’t want–will result in job losses, while screaming about “runaway deficits” from the other side.

(via ThinkProgress)

[edit: Digby has a good take on this as well, citing Obama’s first use of a veto threat on this particular issue.]

posted 6/25/09 at 8:27am to Uncategorized · 0 replies · permalink