Many conservatives have argued that the modern American debt crisis has shown the ineffectiveness of Keynesian economics; the problem is, though, that liberal free-spenders in California don’t even follow Keynes, really. Keynesian theory of a “managed economy” encourages (1) reduced spending and increased taxes during economic booms to pay down debt, and (2) increased spending with decreased taxes during slowdowns to spur economic recovery.
But in California, all we do is spend, spend, spend, and tax, tax, tax regardless of whether the economy is booming or busting. We’re not truly Keynesians in California, but rather some kind of half-Keynesian zombie, lumbering around with an insatiable desire for more and more money to waste.
John Gerardi is a student at Notre Dame Law School. He writes on topics relating to religion and society. He blogs at Christifidelis Laicus.