Commentary 
My colleague, Doug Kass, penned an interesting note suggesting “Keynesian Economics” will fail. To wit:
“At the core of the Keynesian theory is that the coordinated monetary and fiscal policies can stabilize economic output, inflation, and unemployment over the business cycle. As noted above, there are exogenous forces at work in this cycle which render policy ineffective.”
While Doug is correct in his statement, there is a more significant reason why Keynesian economics will not only prove to be a failure but instead has failed already.
Debt Is “THE” Problem
There is nothing wrong with the government spending money to provide for infrastructure, national security, communications, and other programs that can pay for themselves over time. The government can even fund those projects with debt as the return on investment from revenue-producing projects pays for itself.
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