The Cato Institute will be running this ad in several major newspapers:
It will include the names of more than 200 economists and the following text:
Notwithstanding reports that all economists are now Keynesians and that we all support a big increase in the burden of government, we do not believe that more government spending is a way to improve economic performance. More government spending by Hoover and Roosevelt did not pull the United States economy out of the Great Depression in the 1930s. More government spending did not solve Japan’s “lost decade” in the 1990s. As such, it is a triumph of hope over experience to believe that more government spending will help the U.S. today. To improve the economy, policy makers should focus on reforms that remove impediments to work, saving, investment and production. Lower tax rates and a reduction in the burden of government are the best ways of using fiscal policy to boost growth. Below you’ll find some recent Cato work on “stimulus” packages.
While I doubt that it will have any impact on Obama or on the Pelosi/Reid cabal in Congress, it’s good to see someone fighting the good fight.
January 27th, 2009 at 2:13 pm
Trouble is, what we call the good fight, they marginalize by calling “moonbats”, “kooks”, etc.
January 28th, 2009 at 7:42 am
I love Cato.