Ryssdal: So, Justin Wolfers, if we get people like John Taylor from Stanford in here, they’ll say you guys are out of your mind. We don’t need to spend more. We don’t need new debt. We need to reduce that debt so that the government can grow organically. Tell me about that position and why it doesn’t make any sense, ’cause it sounds reasonable.
Wolfers: If you read John Taylor’s economic textbook, it actually says government spending can be a powerful impetus to help you get out. If government debt were a problem, it would be a problem because of governments borrowing so much that the private sector can’t borrow. The symptom that you’d expect to see would be very high interest rates. The problem for businessmen right now isn’t that their government is borrowing too much and they can’t get a loan. The problem is, folks aren’t coming into their stores and buying stuff.
LOL. Watch out for Taylor to respond with some more obfuscation, i.e. wingnut talking points, later this week in the WSJ op-ed section.
Also, too, I am sure, NPR is liberal, especially Marketplace
