Obama Tests Keynes : Planet Money On today's Planet Money, America's recession as $800 billion guinea pig.
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Obama Tests Keynes

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Obama Tests Keynes

Obama Tests Keynes

Obama Tests Keynes

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  • <iframe src="https://www.npr.org/player/embed/100072761/136479677" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

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:

PONZICONOMY!!!!!

With 223 out of 957 votes. hide caption

toggle caption

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

Download the podcast; or subscribe. Intro music: The Gorillaz' "Dare." Find us: Twitter/ Facebook/ Flickr.