It takes a lack of understanding of human nature to wholeheartedly believe in Keynesian Economic theory.
It takes a mental midget to believe in it and then go and ignore a big portion of it.
Shawn Tully interviewed Carnegie Mellon Economics Professor Allan Metzler for Fortune Magazine
Tully: If Keynes were alive today, what would he think of President Obama’s fiscal policies?
Metzler:He would roll over in his grave if he could see the things being done in his name. Keynes was opposed to large structural deficits. He thought that they chilled rather than stimulated the economy. It’s true that we’re stuck with large deficits now. The goal should be to reduce them, not to take on new spending that makes them worse.
Today, deficits are getting bigger and bigger with no plan to significantly lower them. Keynes understood what the current administration doesn’t understand that the proper policy in a democracy recognizes that today’s increase in debt must be paid in the future.
Read the whole thing. If you wear glasses, you’ll want to remove them as you’ll be repeatedly facepalming.