If you read the headlines, you would believe that every working economist agrees this massive government program is necessary. Not true.

If you read the headlines, you would believe that every working economist agrees this massive government program is necessary. Not true.

“Notwithstanding reports that all economists are now Keynesians,” reads a manifesto published by the Cato Institute, “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.”The Cato preamble is signed by 200 economists…

Click the link above for more. Pray for our politicians to do the right thing instead of hurrying to bail out those they owe favors to and in most cases create a worse scenario.