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Toomey on the economy

Pat Toomey has recently thrown announced he will run again against Arlen Specter for the Republican nomination for the Senate. What are his economic viewpoints?

According to this article in The Bulletin, Toomey is at least correct in blaming Alan Greenspan and the Fed for America’s loose monetary policy leading to the depression.

But he erroneously blames mark-to-market accounting as bad policy.

He also states that “massive spending” during the Great Depression was a “major mistake.” While the verdict remains ambiguous on the effect of fiscal spending during the Great Depression, it is important for this depression.

Overall, it seems like Pat Toomey’s views follow the Party-line reactionary bent of the Republican Party on how to handle the recession.

April 20, 2009 at 9:46 am

--Stephen Chang

Tags: Arlen Specter, Pat Toomey

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