The Case for Doing Nothing

Last week, the Cato Institute took out an ad in various national publications, including the New York Times and the Washington Post, listing the names of 200 economists who oppose the stimulus package. According to the ad, these economists “do not believe that more government spending is a way to improve economic performance,” but that “lower tax rates and a reduction in the burden of government are the best ways of using fiscal policy to boost growth.” Shortly thereafter, Cato Senior Fellow Alan Reynolds appeared on CNN, exposing the folly of big-spending “stimulus:”

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