Is Keynesian Economic Theory Good for the Commercial Real Estate Market?

A couple of weeks ago, my column on this blog entitled “Higher Taxes Mean Sluggish Employment” created a significant number of responses and provided a microcosm of on of the biggest debates going on in Washington today. It is the debate between those who believe that the government should create another round of stimulus, thereby increasing spending to stimulate the economy versus a focus on deficit reduction.

The pending expiration of the Bush tax cuts, which are scheduled to sunset at the end of this year, is prompting heated debate in Washington regarding which of these two strategies, or a combination of each, to implement. If you read the comments made in response to the above mentioned column, you will see what appears to be a debate fit for an episode of Face the Nation rather than a commercial real estate blog.