All presidents and congresses use Keynesian economists to "help" them guide the economy. Unfortunately for all of us, Keynesian economics, what they teach in high schools and colleges, doesn't work. How do I know? History. Take a look at the current state of California, which is going broke. After years of Keynesian economics, how well is California doing? Take a look from an article on Bloomberg today:
California, the most-populous U.S. state, forecasts it will collect about $42 billion less than it will need to pay its bills over the next 18 months because of the yearlong national recession.
If Keynesian economics was so good, why is California in dire straits? Is there anyone who needs any more proof? The U.S. is in a recession that will last a long time. Time to get rid of Keynesiansim and use free market, or Austrian, economics. Ludwig von Mises and the rest of the Austrians get it. The government and the Keynesians don't.
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