What Keynes Really Said about Deficit Spending

It is commonly believed that Keynes' primary policy prescription for economic stabilization and full employment is federal government deficit spending. Keynes' policy for promoting full employment or reducing economic fluctuations was the socialization of investment. Any connection between his policy proposal and deficit spending was related to the choice of financing such social investment. The policies pursued in the US over the last 40 years have not been consistent with Keynes' proposals for economic stabilization and have caused ever increasing deficits and financial stability.