In contrast to the U.S., PAN President Felipe Calderón rebuffed Keynesian proposals that Mexico increase deficit spending to counter the slump that followed the 2008 financial crisis. Mr. Peña Nieto concurs.Personally, I think transferring domestic political disputes onto foreign terrain is a recipe for misunderstanding, as every nation's context and history are simply too important for easy equivalences, such as, the PRD is the Democratic Party of Mexico. Or, the stimulus was a bad idea in the US and therefore must be a bad one in Mexico. However, if you do want to engage in cross-border partisanship, facts, as ever, are important, and O'Grady's assertion is simply incorrect. Here's Calderón announcing his economic stimulus in January of 2009. Here's a rundown of the plan's provisions. Here's me thanking Calderón for the portion of it that reduced my gas bill. And, here's Enrique Peña Nieto, supposedly Calderón's partner in a fiscally conservative response to the crisis, endorsing his plan, with the reservation that it should not be used for electoral purposes.
In summary, there was a Keynesian response to Mexico's crisis, and the primary criticism of it was that it ran out of money and was cut short in the summer of 2009.