Leave it to Fareed Zakaria to point out the irony of Republican tax policy that no one, but economic historians and datamongering financial bloggers (yours truly), have known all along but for whatever reason rarely gets mentioned mainstream news networks.

Republicans are actually [just] as committed to Keynesian economics as the Democrats. Keynes simply said: when businesses and consumers stopped spending, the government has to step in.

Keynes advocated 2 kinds of government actions: public spending or tax cuts. Republicans simply prefer the latter.

In case you not familiar with the distilled version of Keynesian Economics:

A supporter of Keynesian economics believes it is the government’s job to smooth out the bumps in business cycles. Intervention would come in the form of government spending and tax breaks in order to stimulate the economy, and government spending cuts and tax hikes in good times, in order to curb inflation. — via Investopedia

The real humor, of course, would be to watch a mainstream journalist actually ask a high ranking Republican if he supports Keynesian economics, get the resounding “of course I don’t”, and then get hit with the knowledge that tax cuts are actually part of the original Keynesian economics equation.

Rest assured, that journalist would never get an interview with him/her ever again.