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Remove impediments

Posted by Richard on January 28, 2009

In a newspaper ad (PDF) paid for by the Cato Institute, hundreds of economists, including Nobel laureates and others prominent in the field, have challenged President Obama's claim that "we need action by our government, a recovery plan that will help to jumpstart the economy" (emphasis added):

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

Call your Congresscritter's office and tell them you think spreading around another trillion dollars that we don't have is insane and irresponsible, and giving billions of it to organizations like ACORN is contemptible and criminal. Tell them tax rate cuts will stimulate the economy, just as they did for Kennedy, Reagan, and Bush. Tell them you get more of what you reward and less of what you punish, so we should reward production, job-creation, and success — not failure.

UPDATE: I've learned via email from Cato that the ad ran in today’s New York Times (page A11) and is also scheduled to appear in the Washington Post, Los Angeles Times, Chicago Tribune, and Washington Times. Good work, Cato!

UPDATE2: The House passed the abominable $819 billion monstrosity, but with all the Republicans and 11 Democrats voting no: 

The 244-188 vote was not what Mr. Obama had hoped for. A week of presidential wooing — including a visit to the Capitol, a return visit to the White House by moderate House Republicans and a bipartisan cocktail party Wednesday night — did not yield a single Republican vote. The president also lost 11 Democrats.

Instapundit passed along this suggestion: 

UPDATE: Reader Mark Cates writes: “You might mention that it would be worthwhile to send these guys a Thank You for their vote. They probably need as much encouragement as they can get. I sent one to Shuler.”

Good suggestion.

Yep. And if, like me, you're represented by one of the 244 sleazeballs who are gleefully increasing the federal budget by 30% in one year, and during a recession to boot, send them a "Shame on you!" This battle may have been lost, but the war is just beginning. Keep the heat on!

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