Pastor of Muppets (syndicalist) wrote in ontd_political,
Pastor of Muppets

Barney Frank on GOP econ. philosophy: "Weaponized Keynesianism"

A pretty good burn from Barney Frank in the style of Obama's burn the other day against private health insurers:

BARNEY FRANK: These arguments [that defense spending creates jobs and is good for the economy] 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 [see below], that is of course economic salvation.

Backstory from Think Progress:

"On a press call hosted by the Center for American Progress Action Fund this afternoon, Frank pointed out Republicans' hypocrisy in railing against the deficit while simultaneously funding a $2 billion air force jet that has never once flown a mission in Afghanistan or Iraq.... Frank also dismissed concerns that eliminating the F-22 will cost jobs."
Tags: barney frank, budget, economy
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