There was a British economist in the 1930s by the name of John Maynard Keynes, whose wrongheaded economic theories have left their indelible mark on generations of Leftists. Mr. Keynes authored a book on economics entitled, General Theory of Employment, Money, and Interest. This book has been the holy bible and the source of permission used by the Left for the last 70 years to grow the size and scope of government. It is the quintessential foundation of the tax and spend Liberal.
The Keynesian economic theory can be boiled down to one statement, "You reverse economic downturns in a country through more government spending." That's it folks! This man who is considered brilliant by the intellectually unwashed, economically ignorant Left, based his entire thesis on the idea that poverty creates wealth. It doesn't matter to the Left that the tree of Mr. Keynes' empty-headed economic ideas has never born fruit in any country, town, city or even family where they have been tried. Those on the left whose political fortunes are totally invested in big government have whole heartily embraced his irrational ideas. Keynesian economics is analogous to filling a swimming pool by removing the water.
Mr. Keynes' economics may well work if the money that government possessed existed in a vacuum. But it doesn't. For every dollar that government spends, it must first pull it out of the private economy. Government has no way of making its own money, therefore it can not create the wealth that is needed to lead an economy out of a downturn. Government can obtain money in one of three ways, through taxing the governed, borrowing from creditors or by printing more dollars. All three of these ways involves depleting the private economy of wealth in one way or another. For every dollar of economic stimulus the government claims to create, it costs two to three dollars of wealth. This is due to the cost of the bureaucracy involved with the government acquiring the dollar to spend in the first place. There is no mathematical basis for Keynesian economics being successful at accomplishing anything but growing the size of government and shrinking the size of the private economy where all wealth is created.
For those who still are not convinced of the folly of Mr. Keynes' economic theory, try it with your own finances. Keep spending money no matter how much debt you accumulate, the more you go into the red, the more you should borrow and spend. Do you honestly think that eventually this behavior will lead you to some economic Nirvana whereby you have addition by subtraction? If you do, then you might be a Keynesian. Oh, by the way, John Maynard Keynes didn't apply his economic theories to his own finances and instead chose to make millions in the stock market. I guess even the man whose name is synonymous with the failed economic theory he authored, wasn't himself a Keynesian.