Over 200 top economist against the Obama plan

The Cato Institute purchased a full-page ad in major newspapers across the country listing the names of several hundred top economists including several Nobel Laureates who object to massive deficit spending as an economic stimulus. Cato scholars and ad signatories have made their case on television since the spending program was proposed.

Those Economist signed the following petition to the President. "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."

The original document can be found here:

http://cato.org/special/stimulus09/alternate_version.html

Category:

News & Politics

Tags:

• obama
• democrats
• spending
• economy
• stimulus
• orbin

[dirkamus]

good video

[ConservativeRuleinUS]

Only the communist economists seem to agree with the Obama fiscal plan....LOL

[rocky4432901]

Rocky Reports.........Obama was one of the primary persons as a Senator that created the Credit Crisis. It started long before he got elected when he was a senator in chicago. He forces Banks in ILL & across the nation to give Loans to his Acorn Organization accosiates & friends, of whom were unqualified to received the fannie mae & freddie mack Loans. Someone like Obama U do NOT put in charge of a Nation & Let Him FIX the Nations Economic Problems. Americans are Crazy who voted for Obama!

[CommonSensePeter]

The only way to grow and sustain an economy is by having employed citizens and the only way to keep companies here in the USA is to make it more profitable for them stay. Why did Honda setup shop in the US, because they avoided paying an import tax as soon as free trade entered the picture thanks to Clinton and Bush other countries stayed home and our companies left, less or no regulation, no Unions, less or no taxes, lower wages and no import tax.

Free trade screwed our country that simple.

[louielamson2000]

On the issues: Obama Stimulus Work one years later? Iraq and Afghanistan War?

Did 825 billions US dollars stimulus Package Work?

Is better to give@loan 825 Billions dollars stimulus Package for US CITIZENS@SMALL BUSINESS OWNERS, HELP THEM TO CREATE MORE JOBS FOR AMERICA, MADE IN AMERICA!!!

[Romeighla]

I just love the ending of the video!

[MrWashingtons]

every one check the bloom berg report on our debt

[roundroundwego]

I dunno ............. this borrowing billions and trillions, is mind boggling.

Me thinks America is rapidly coming to the conclusion, that Obama is not the god he thinks he is.

[brewersrule1978]

That's pathetic, man. Talk to me about policy for the rest of us when you actually chip in instead of telling us who work 10 hours or more a day to provide for our own families we need to give your lazy butt more.