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Vatican diplomat criticizes austerity policies, calls for a new ‘New Deal’ stimulus

September 15, 2017

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CWN Editor's Note: Archbishop Silvano Tomasi suggested that world leaders should follow the example of President Franklin Roosevelt and the advice of economist John Maynard Keynes, using government spending to raise economic prospects. The archbishop who also criticized "xenophobic rhetoric," made his remarks at a press conference in Geneva, Switzerland, at which a new UN trade and development report was presented.

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  • Posted by: [email protected] - Sep. 17, 2017 8:40 PM ET USA

    When will these bishops learn that it is not government funds but what is taxed from you and me. More funds spent the more must be raised through taxes. No free lunch. It is Keynesian policies that we now have 20 trillion in debt that is now saddled on our children and grandchildren and if we don't get a handle on it will get worse. Can you even visualize what 20 trillion looks like? We must stop or go broke ruining everyone except the wealthy elite.

  • Posted by: nix898049 - Sep. 17, 2017 6:28 PM ET USA

    I agree with his comment on morals and self restraint being a benefit to the economy. Not so much with his Keynesian model to achieve same.