Inadequate Spending?

Inadequate Spending? NetRight Daily
"Specifically Krugman blasted several world leaders (although obviously not the leader of the “free world”) for what he called “preaching the need for belt-tightening when the real problem is inadequate spending.”

And no, that’s not a typo.
He actually said “inadequate spending.”

According to these “New Keynesians,” the unsustainable government growth that preceded the most recent economic downturn apparently wasn’t enough.
Nor was the unprecedented barrage of bailouts, taxpayer-funded guarantees, freshly-printed greenbacks and deficit spending that Washington threw at the problem over the last two years.
And let’s not forget what has been heaped on top of all that “stimulus” spending — a $2.5 trillion socialized medicine plan that represents one of the largest expansions of entitlement spending in American history.

Amazingly, despite the clear failure of the “stimulus” — and despite the fact that excess entitlement spending is what has driven the eurozone to its present precariousness — the rallying cry of these big government backers appears to be “we have only just begun to spend.”

Let’s examine the efficacy of that mantra"