by Llewellyn H. Rockwell, Jr.
In 2012, Barack Obama warned that the United States would fall into a depression if Ron Paul’s plan to cut $1 trillion from the federal budget were enacted.
Wait, I beg your pardon. It wasn’t Obama who warned that budget cuts would lead to a depression.
It was Mitt Romney.
Romney went on to become the nominee of the self-described free-market party.
An ideological rout is complete when both sides of respectable opinion take its basic ideas for granted. That’s how complete the Keynesian victory has been.
In fact, Keynesianism had swept the boards a decade before Romney was even born.