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One frequent citation of the keynesians for deficit spending working positively and reversing a downtrend is Sweden's exit of the depression before any other country (1929-1934), and a continued downslump in America's depression when FDR supposedly balanced the budget in the mid 30's. I'm...
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Let's say widgets have been selling like gangbusters and it is a trillion dollar industy. People spend 1 trillion per year on widgets. Let's say 10,000,000 people are employed in the industry. All of a sudden, something happens and no one wants widgets anymore, they decide to save their money...