Weekend items.

Nathan Lewis looks at the impact of tax increases during the Great Depression.

From last week, Lewis examines middle class decline.

I made a similar argument last month.

The WSJ editorializes that Keynesian spending has come to a dead end.

The Economist argues too much borrowing is the root of world economic troubles.

Larry Kudlow features Steve Moore and James Galbraith, in which Galbraith makes a good point:

The IMF has a study on [deficits] covering the whole G-20 which shows that over half of the increase in deficits since the crisis is due to collapsing tax revenues. Less than 10 percent is due to increasing spending. A very large additional share is due to the very low rate of growth in relation to interest payments on national debts.... [Deficits are] an artifact of the financial crisis, it's not because governments have gone whole hog on spending programs; they haven't done that.

Steve Hanke opposes exchange rate controls.

Jonathan Chait suggests Republicans often sell tax cuts in Keynesian terms.

U.S. Rep. Paul Ryan (R-WI) criticizes Congress for not passing a budget.

Reason's Tim Cavanugh says Paul Krugman's economics have been proven wrong.