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<p>Actually, the inappropriate application of Keynesian economics (cutting taxes and increasing spending, turning a short-lived surplus into deficit) during better times helped inflate the bubbles that led to the deeper and longer recession now than typical. The problems in the financial system are likely the reason it is deeper and longer; one can argue that the Keynesian economics applied in the recession made it slightly less deep and long. Of course, the government’s room to maneuver in this area is severely restricted by past reckless spending during good times, such as the addition of the unfunded entitlement to the socialized medical insurance program (Medicare Part D).</p>