Summary

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?

Recommended Citation

Stiglitz, Joseph (2004) "The Parties' Flip-Flops on Deficit Spending: Economics or Politics?," The Economists' Voice: Vol. 1 : Iss. 1, Article 2.
Available at: http://www.bepress.com/ev/vol1/iss1/art2