The Parties' Flip-Flops on Deficit Spending: Economics or Politics?

Joseph Stiglitz

The Economists' Voice, 2004, vol. 1, issue 1, 7

Abstract: Not long ago, Republicans were trying to pass a balanced budget amendment to the constitution. Democrats were skeptical, overwhelmingly Keynesian, and believed that deficit spending had ended the Great Depression. Under Rubinomics the positions began to switch: Democrats became the defenders of fiscal orthodoxy. Now Bush has cut taxes for the rich and caused huge deficits. Is the flip-flop just politics?

Keywords: deficits; deficit spending; Greenspan; Bush; Rubin; Keynes (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (2)

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DOI: 10.2202/1553-3832.1001

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