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I don't think the Keynesian approach is considered the "Balanced" approach. If I recall things correctly the "Balanced" approach included both some tax and spending cuts in certain areas of the budget and increased spending in others. A straight Keynesian approach would be to just pump a bunch of money into the economy. Granted I might be splitting hairs here but I think it's important to note that Obama's plan is balanced when compared to the Republican plan and Keynes model.