Obama Tests Keynes



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Today on Planet Money:

Justin Ritchie of Charlotte, North Carolina, bought the living room set pictured above from a Craiglist ad. The seller, he says, was a Bank of America employee who decided now would be a good time to return to India.

— When Super Bowl 43 is finished, the host city of Tampa can expect to count up a $150 million boost to its economy. But economist Philip Porter of the University of South Florida tells Mike Pesca there's no way that's true.

President Barack Obama says that only government can pull America out of a recession this severe. Obama calls his plan for stimulus spending of well more than $800 million a new idea, but Adam Davidson and Alex Blumberg say this kind of public spending relies on an old theory. John Maynard Keynes wrote it up in 1936 — and this recession marks its first real-world test.

Bonus: Results of our Name the Crisis poll, after the jump.

The name of the crisis is:



With 223 out of 957 votes. hide caption

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True confession: I voted for Economageddon, but wanted Great Recession to win.

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