"Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem

Is our prosperity derived from a continual circular flow of spending? Is it impossible for a society to increase it's total savings? Can deficit spending by a government step in to replace private activity in order to maintain full employment and restore lasting economic growth? What is a liquidity trap and what does it mean for the economy? What did Keynes really mean by "in the long run, we're all dead"?

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The 'Fiscal Operating Doctrine' of the Barack Obama Administration was summed up by Barack Obama's hand picked 'Chosen' Vice President:

“We’re going to go bankrupt as a nation,” Biden said.

“Now, people when I say that look at me and say, ‘What are you talking about, Joe? You’re telling me we have to go spend money to keep from going bankrupt?’” Biden said. “The answer is yes, that's what I’m telling you.”

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Fight of the Century: Keynes vs. Hayek Round Two

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Barack Obama's Economic Record (Keynesian Spending).
1) First U.S. Debt Downgrade in American History, drops to AA-plus.
2) Highest Level of Federal Spending since WWII (25% of GDP).
3) Highest Budget Deficit since WWII (10% of GDP).
4) Lowest level of Employment since 1983 (58.1% of Adults Working).
5) Highest Long Term Unemployment Rates since the 1930's (45.9% of Total Unemployed for Six Months or Longer).
6) Median Income Is At Its Lowest Level Since 1997.
7) Number Of People (over 16) Who Didn’t Work At All Last Year Increased To 86.7 Million.
8) Number Of Americans Living In Poverty (46.2 Million) the Highest Level On Record.
9) Child poverty rose from 20.7 percent in 2009 to 22 percent last year.
10) Economy added no jobs in August the first time since February, 1945.
Largest wealth destruction in American history: Net Wealth Lost 2009-2011 --$8.7 Trillion
11) Highest sustained Unemployment in decades: 9.1%
12) Brutal Unemployment for minorities: Black Americans : 16.7%
13) Unprecedented Unemployment: Black Teenage Americans :46.5%
14) Historic jump in Number of people in U.S. on Foodstamps : 45.8 Million.
15) Quixotic investment in mythic Green Jobs : $80 billion.

Supposed Number of Green Jobs Created : 255,000.
Approximate Cost of each Green Job: $313,725.50.

16) Stimulus Program: TARP : $475 Billion
17) Stimulus Program: Shovel Ready projects : $787 Billion
18) Stimulus Programs: Cash for Clunkers : $3 billion
19) Stimulus Programs: Cash for Caulkers : $10 Billion
20) New Regulations 2009-2011 : 75 Major New Regulations, 1,827 Rules Amended
21) Cost of New Regulations : + $1.75 Trillion annually
22) Public Debt : $18.8 Trillion
23) 2012 Federal Budget Proposed by Obama : $3.73 Trillion
24) Percentage of Federal Spending required from borrowing: 40%
25) Obama wants to spend $475 billion more on 'Jobs Bill'.

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