The Cato Institute Disagrees with Pres Obama

[Accountable]

"There is no disagreement that we

need action byour government,
a recovery plan that will help to
jumpstart the economy."
PRESIDENT-ELECT BARACK OBAMA, JANUARY 9 , 2009​

With all due respect
Mr.President,that is not true.​

Notwithstanding reports that all economists are now Keynesians and that we all support a big increase in the burden of government, we the undersigned 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, policymakers 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.

http://www.cato.org/special/stimulus09/cato_stimulus.pdf

Are we in for a decade of depression?​

 

[Meirionnydd]

In Australia, on the news there are talking about a economic stimulus package.
Something like AU$950 to everyone who earns under $80k per year.
I wish I was a citizen!

Yep, I should be getting $950 at the end of March. You can be eligible for up to three payments, I might end up getting $1900, XD

Those earning over $100,000 a year still get something, albeit only $300.

 

[Tim]

Hmmm, the Cato Institute that believes in limited government and free markets disagreeing with a stimulus package....

That's not news.

 

[sierrabravo]

Those earning over $100,000 a year still get something, albeit only $300.

fuck them they dont need it... i do... last year i made 20k...

 

[BadBoy@TheWheel]

I wouldn't say we are heading for a "depression" what I do see, is inflation ramping up to offset the slumps, and consequently a pretty radical re-adjustment to how people live.

Simply put, WHEN inflation rises and it's going to, you get less bang for your buck....That's a simple way of putting it.

I can already tell you if you have looked at the gas pump, the cost of Oil has been really stable, consumption is really low, and prices are steadily climbing.

That's a good market indicator of inflation