@CatoInstitute (Instagram)

Ten years ago today, @CatoInstitute published a full-page ad in the @nytimes with the names of some 200 economists — including some Nobel laureates and other highly respected scholars — who “do not believe that more government spending is a way to improve economic performance” - contrary to widespread claims that “Economists from across the political spectrum agree” on a massive fiscal stimulus package. A decade later, we may have a different president from a different party, but this simple economic truth holds true: 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. #CatoEcon