Spend more is nonsense, IMHO. Of course if they are truly going to be Keynesian, they should also cut spending and taxes during good times.
The current crop of keynesians are sort of like being half-bulimic—all binge, no purge.
The critical problem during the FDR years was the experimentation. Business decided to wait out the insanity. Also, they went crazy with idiotic regulation. Not surprising given key economic advisors thought the CCCP was peachy keen, and the wave of the future.
Read The Forgotten Man for a different take.
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