We Need More Government Spending, Not Less. Krugman is right.
American taxes of all kinds are among the very lowest as a share of GDP of all developed countries
"What’s required now is more government spending. The federal government can now borrow at the lowest rates in its history. Borrowing and investing in roads, bridges, and schools takes a while to percolate through the economy, but pays high dividends in terms of middle-class jobs. (Federal spending in general is much more tilted to ordinary families than spending processed through banks.) And if we don’t want to incur more debt, we can finance it through taxes. American taxes of all kinds are among the very lowest as a share of GDP of all developed countries." - Charles Morris, "Whose Recovery?" in Commonweal. Dec 8 2014.
And Nobel Prize winner Paul Krugman, New York Times columnist, has been saying this all along!