THE KEYNESIAN PATH TO FISCAL IRRESPONSIBILITY.

The article discusses a purported relation between Keynesian economic policy and fiscal irresponsibility. Fiscal problems are said to result from the interaction of Keynesian economics with the political process in the U.S. The history of U.S. federal budget deficits and spending as compared to gross domestic product (GDP) is addressed. Differences between short-run prescriptions of higher government spending and long-run economic productivity are said to exist. The book "The General Theory of Employment, Interest, and Money," by John Maynard Keynes, is noted.