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  • Cato Fights Back

    The Cato Institute sought to make clear where they and the world’s smartest economists stand on the Pelosi-Reid-Obama Debt plan by running a full page ad in the New York Times, Washington Post and other major newspapers this week that includes 200 signatures from major economists who oppose the stimulus:

    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.

    Posted in Ongoing Priorities [slideshow_deploy]

    16 Responses to Cato Fights Back

    1. John Theobald, Marie says:

      Why doesn't someone, anyone, ask RPO (Reid, Pelosi and Obama) to point to one, JUST ONE example of where this kind of stimulus (AKA Government PORK BARREL) has ever worked before? Why is that such a difficult question to ask? What can they point to that will make anyone with half a brain (cuz that's apparently all they have between them) begin to even remotely believe that this kind of reckless behavior by OUR representatives will benefit the economy?

      Just once I'd like to see some individual from the Press Corps do their duty and ask the tough question.

      Were it made a question whether no law, as among the savage Americans, or too much law, as among the civilized Europeans, submits man to the greatest evil, one who has seen both conditions of existence would pronounce it to be the last; and that the sheep are happier of themselves, than under the care of wolves.

      - Thomas Jefferson

    2. Spiritof76, New Hamp says:

      I am glad that the CATO institute had taken out an ad. to debunk the massive government spending to stimulate the economy. However, the current administration and the Congress are using the recession to advance socialism (better known as Progressive) in the US. They despise capitalism. What you are witnessing is equivalent of what Gen. Sherman did during his famous march through the south at the end of the civil war- scorched earth policy towards capitalism.

    3. Paul, Michigan says:

      Should the new government be able to collapse the dollar and the economy, they shall be in Total control. How they can think this is a good thing is either dumb or evil. Gentle reader, please study history and know of the latter.

    4. Darrel Baird, Kent says:

      What we are seeing is the very same conditions that led up to the second world war.Europe made jobs,raised taxes to pay for the jobs,made products that consumers couldn't buy,invoked price controls to regulate consumer inflation,then used expansion to justify the policy . America built products for the war prior to being in the war for the lend-lease program.Once entering the war jobs were created,price controls invoked,rationing of food and materials began. To contol inflation and finance the war the U.S sold savings bonds.Millions of people went to work and the economy improved .

      The problem ? Tariffs and protectionism fueled nationalism to the point of total lack of reason.

      Listen to the rumblings going on right now .

      I'm hearing the very same issues that created,from 1931 through 1940 a world situation that killed 50 million people.The second world war didn't just happen,it was created. Am I overly concerned ? I don't know . Just listen to our leaders and see where we are heading . THEN don't be coerst into not asking hard questions.I don't care what your politics are .pay attention, ask the questions,and DEMAND answers .

    5. John, Tennessee says:

      The goal is not economic stimulus. It is political power and pay back to radical/liberal interest groups and causes.

      It's Christmas Time in the (Liberal) City.

      The economic benefit of individuals is the last thing on the Democrats minds.

    6. J.C. Hughes, Texas says:

      Lord help us all. We're on intruments through this leftist storm. It's no joy with a high crash potential for the next four years or more.

    7. Kent, Virginia says:

      Despite the approval of a fawning press, the Liberal Fascists now in charge of America are not spending billions of our grandchildren’s tax money to help America or America’s economy. They are spending to enlarge government, solidify their base of power, and ensure they will dictate the direction our society will take for years to come. They are practicing subversion, with the unwitting complicity of a duped populace–(dare I say proletariat?) Once great newspapers like The New York Times are simply propaganda sheets endorsing and promoting this fascistic world view. No government in the past has plunged deeper into debt and prospered. Keynesian economics was wrong before and will prove wrong again. The question is; can America afford these people and their totalitarian tactics?

      We had better wake up soon. The only way to stop them is with term limits for all elected representatives of the people. Get rid of the professional politicians and their cronies. Good luck trying to get any form of term limits past this power hungry Congress.

    8. Ronald C. Siegwald, Fenton, Michigan says:

      I wrote to Congreeman Dale Killdee and asked to reject the stimulus bill, that the CBO said that the stimulus will not help the economics of the nation. There is to much pork in the bill.
      People create jobs and people pay taxes. In Michigan the small business TAX was raised and the growth rate has stopped and thousands have move out of the state for employment. The effects of high taxes on business. The business are also laying off their work force because they do not know what taxes you plan to raise in the future. I am just a average blue collar worker.

    9. J.C. Hughes, Texas says:

      I forgot to ask my question. With all the criticisms of corporate mismanagement, who'll bail out congress after they bankrupt the nation?

    10. John Theobald, Marie says:

      Mr. Hughes …

      That would be you and me and the rest of us Americans … but I don't suggest bailing them out. I prefer we THROW OUT the whole lot of libs and non-conservatives.

      They say Princess Pelosi was celebrating before the vote was even taken … I wonder if she ever read Jefferson…

      "An honest man can feel no pleasure in the exercise of power over his fellow citizens… Power is not alluring to pure minds and is not with them the primary principle of contest." –Thomas Jefferson

    11. ANDREW, OHIO says:

      peloise, reid, franks, rangel, hussin, keeps showing their ignorants. this is what nbc, cnn, msnbc, abc, time, new york times, put in the highest office in the country. we have stupid all in washington. they woke up in never never land. land of dimwits. destroy of america, with their social programs.

      what would happen if we all decided not to work? this is a hard question.

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    13. Jim Konogeris, May, says:

      THE FAILURE OF A BUSINESS IS…………BUSINESS.

      THE BUSINESS OF AMERICA IS…………..BUSINESS.

      THE future BUSINESS of America is…….BUSINESS.

      THE IMMEDIATE AND FUTURE BUSINESS OF THE LEGISLATIVE AND EXECUTIVE BRANCH IS TO PROMOTE STATESMANSHIP AND LEADERSHIP (not politicians) TO THESE United States of America as ORIGINALLY intended……..NOT BUSINESS!!!!

    14. Mike, Hickory, NC says:

      In the real world of facts, We the People, including the Cato Institute, are factually right.

      However, Leftist government elitists keep themselves in denial of the real world of facts and at constant war against them because such things are against their government elitist agenda, no matter how many times government elitism has always failed, continues to fail, and will always fail, since before, during, and after Kings, Karl Marx, and other government elitists to this day.

      Yet, to Leftist government elitists, the real world of facts don't count, only their Leftist government elitist agenda counts, no matter what.

    15. Pingback: Who’s Blogging about Cato | Think Tank West

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