In which I explain economics to Jacques, my dog. You know, so that he can go explain Keynesian macroeconomics to all the other dogs.
Friday, April 6, 2012
Layoffs Make People Unemployed
Regardless of what he said, Reagan knew that a huge demand slump needed a huge growth in government spending, so between inauguration and his "Morning in America" ad, Government spending rose by nearly 30%.
Mark Thoma sends us to a picture that shows, in a nutshell, why this recovery has sucked so much: government has been laying people off.