Exhibit A in what is wrong with Keynesian economics, in fact all modern macro, has been the United States. This is the main headline at Drudge that comes with the picture:

Here are the sub-heads that spell out the disaster:

Record 94,610,000 Americans Not in Labor Force…
Participation Rate Lowest Since 1977…
Record 56,647,000 Women Not Working…
‘Payrolls Disaster’…
‘Fed never going to raise rates’…
IT’S UGLY!
FLASHBACK: IT’S GOING TO BE GREAT…
Markets at ‘panic levels’…

You elect a socialist who thinks he can direct the economy, keeps interest rates well below equilibrium, promotes crony capitalists at the expense of genuine competition, and makes war on cheap forms of energy and this is what you get. But what truly gets to me is that Samuelson-clone economic theory cannot be eliminated from policy and from the minds of the majority of economists. If they still think you can make an economy grow from the demand side after all of this, I don’t know what it would take to get them to see just how wrong modern economic theory is. It’s not the lack of spending. It’s the lack of value adding. If they cannot tell the difference, they should go back and read Adam Smith and J.S. Mill.