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Article
The Parties' Flip-Flops on Deficit Spending: Economics or Politics?
The Economists' Voice (2004)
  • Joseph Stiglitz, Columbia University
Abstract
Not long ago, Republicans were trying to pass a balanced budget amendment to the constitution. Democrats were skeptical, overwhelmingly Keynesian, and believed that deficit spending had ended the Great Depression. Under Rubinomics the positions began to switch: Democrats became the defenders of fiscal orthodoxy. Now Bush has cut taxes for the rich and caused huge deficits. Is the flip-flop just politics?
Keywords
  • deficits,
  • deficit spending,
  • Greenspan,
  • Bush,
  • Rubin,
  • Keynes
Disciplines
Publication Date
September, 2004
Citation Information
Joseph Stiglitz. "The Parties' Flip-Flops on Deficit Spending: Economics or Politics?" The Economists' Voice Vol. 1 Iss. 1 (2004)
Available at: http://works.bepress.com/joseph_stiglitz/6/