
Obama and Congressional Democrats are taking blistering attacks from newly minted "fiscal conservatives" over the just passed stimulus bill. Common sense may dictate that government should retract during tough economic times. Such an act would have been disastrous, had Senator McCain won the election. Keynesian economics is based on the notion that governments maintain fiscally moderate policies during good economic times (See Clinton era Rubinomics). During tough times, under this theory, the government steps in to keep economic activity moving until the private sector can recover and fulfill its role. It also serves the critical function of preventing social unrest and uncertainty during bleak times. Future generations will view Obama as the man who saved capitalism, notwithstanding his current vilification from Bush-era spendthrifts.
