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The problem with Keynesian economics is not the doctrine, but the human element involved in it.
Deficit spending during a productive economy is bad news, but politicians just aren't willing to increase taxes, or cut government spending, so the only alternative is foreign investment. Up to a certain point, foreign investment works well, but as Keynes pointed out, control over the investors currency is limited.
Keynesian economics is very socialistic in nature, probably one of the reasons why it doesn't quite work as well as it does on paper.
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