CNBC’s Rick Santelli explicates the most fundamental problem with Keynesian economics:
At the end of the day, it’s simple. A lot of the president’s advisers are saying that there’s a multiplier effect to the government money, and it’s over one. Now if that’s true, then the government should spend non-stop for the rest of our lives, because we’ll get a positive return. And it makes no sense.
None at all. And do check out his on-air apostasy. It’s got to have a few folks in the White House rattled.