Senator John McKeynes

February 7th, 2013 at 1:52 pm

From this AM’s NYT:

…the potential impact of the cuts is being cited by both parties. Senator John McCain, Republican of Arizona, said the military side alone would eliminate 350,000 jobs directly, and 650,000 more that depend on the government programs.

So, not only is this pure Keynesian analysis, but the Senator is recognizing both the direct and indirect effects of the cuts of jobs.  In other words, he’s got a multiplier, and it’s a big one!

I can’t say how long will it be until these guys go back to saying “the government doesn’t create jobs!” but until then we need to add to our working definition of a Keynesian.  It used to be “a Republican in a recession.”  Now it’s also “a Republican facing defense cuts.”

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6 comments in reply to "Senator John McKeynes"

  1. Edward Ericson Jr. says:

    This is not new. Republicans as well as Dems have long defended defense spending in these terms, always without irony. Good eye spotting it though.

  2. Job Creator says:

    I’m pretty sure the definition is actually “Republican during a Republican presidency”

  3. Misaki says:

    Paul Krugman isn’t going to support working less as the solution to unemployment and everything else. I could speculate on the reasons but it’s really irrelevant. I view you as the second most qualified person in terms of expertise and willingness to listen to anonymous people, as well as reputation.

    (I have actually written about possible reasons but again, it’s not very relevant and the explanations are mixed with even more irrelevant things)

    An analogy is constructing something. You do not want to slam the pieces together as hard as possible; speeds are kept slower to prevent damage to things.

    If you make a post on another topic after it’s reasonably assumed you have read this comment, I will assume you aren’t going to support it. (Paul Krugman did not publish the two comments where I said something similar; specifically, the first one said that I preferred he “be honest about this even if it leads to my death”. In the past he has not published comments that did not seem to contribute anything original to the topic, such as if all I did was quote or link something without any words by myself.)

    Although I have not mentioned it before because I didn’t feel it would help, one way of looking at it is that this is an attempt to kill the gods — all of them. To some people this might seem like a serious matter.

    I don’t see it as viable without mentioning paying people a higher rate for working less, since that’s what links it to individual benefit without revealing personal goals or seeming ‘selfish’ (because working less becomes a ‘story’ within the ideology of personal freedom where it’s seen as actually more selfish to openly do something purely altruistic).

    From this video about the 21-hour work week proposal, linked in a comment by someone on Paul Krugman’s blog:

    I have typed the phrase twice before, the one beginning around 1:31 (the first was in reply to that comment, and my comment was not approved as explained above), and don’t feel like listening to it again… but roughly,

    “The conventional wisdom is that in hard times like the the ones we’re going through, we need to work more.” Then it continues to say that this is wrong without actually having any economic explanation of how working less could help with employment, instead of just the environment and so on. But I mention it as just more evidence that people incorrectly interpret high unemployment as ‘a lack of national wealth’ and this is the reason for the business cycle.

    Apologies for the long comment.

  4. PWPiranha says:

    To quote Barney Frank…this is ‘weaponized Keynesianism!”

  5. R. Nemo says:

    Politicians are such a joke! They are total cynics! Authenticity is a word not found in their lexicon…

  6. Tom in MN says:

    It’s also “republican in the White House” as you know any president who wants to get reelected is never going to cut spending if there is any chance it will cause job losses. Let’s just hope we don’t get another demonstration any time soon.