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Is Fiscal Stimulus Desirable?
If So, What Works Best?
POLICY FORUMThursday, October 11, 2001
12:00 p.m.
Featuring Douglas Holtz-Eakin, Chief Economist, Council of Economic Advisers; Chris Edwards, Director, Fiscal Policy, Cato Institute; Rep. Jim Saxton, Chairman, Joint Economic Committee; Alan Reynolds, Senior Fellow, Cato Institute; William A. Niskanen, Chairman, Cato Institute.
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U.S. economic growth has declined for more than a year, and the terrorist attack on September 11 probably tipped the economy into a recession. These conditions have provoked a wide range of proposals for spending increases and tax cuts in the name of fiscal stimulus or national security. Congressional Democrats have focused on spending increases for workers, and Republicans on tax cuts to increase business investment. President Bush has endorsed a good bit of both, as long as the total is less than $75 billion. That amount would be in addition to the $40 billion already approved to respond to the terrorist attack and the $15 billion to assist the airline industry. This has provoked a fiscal feeding frenzy in which many groups have made appeals for fiscal support of their special interests.
This panel addresses the broader question of whether fiscal stimulus is either necessary or desirable and, if so, what measures are most likely to increase economic growth. Please join us for what promises to be a lively informative discussion.