Steven E. Yorgason (Readers' Forum, March 18) blames John Maynard Keynes for our economic woes? He misrepresents his ideas by presenting only half of the picture.
During a recession, government deficit-spends with new programs to stimulate the economy. Interest rates are cut to encourage borrowing and investing. Taxes are lowered to increase disposable income and consumer spending. During boom times, government cuts spending and eliminates programs. Also, interest rates are raised to discourage borrowing, and taxes are raised to reduce consumer spending, all done so the economy is not overstimulated. The surplus created is to pay off the previous debt accumulation.President Bush and Congress, for political favor only, violated this sound economic policy right from the start of his presidency. The blame really lies with past presidents and Congresses.
Salt Lake City