It's a mistake to think about Keynes primarily as a deficit therapist, but this is just a ridiculous mangling of his words and ideas. This is not what "in the long run we are all dead" means. Keynes didn't even support deficit spending when he said it. https://twitter.com/Acyn/status/1339682506493194240
Keynes wrote "In the long run we are all dead" in 1923 to argue for more active monetary policy targeting inflation and deflation. His point was that the money market might very well correct for trouble eventually, but in the near-term a great deal of social damage could occur.
And that damage could of course take on a life of its own, fostering further problems.
Keynes did not say, as Rand Paul claims here, "do something fun now that will hurt later because I will be dead by the time the pain sets in."
Setting aside the politics of deficits and the current moment, Keynes just wasn't advocating budget deficits in 1923. "In the long run we are all dead" hit the presses six years before he converted on the deficit question. Rand Paul is just wrong.
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