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President Obama says that "economists from across the political spectrum agree" on the need for massive government spending to stimulate the economy. In fact, many economists disagree. Hundreds of them, including Nobel laureates and other prominent scholars, have signed a statement that the Cato Institute has placed in major newspapers across the United States.
- Read the text of the ad in HTML with additional signers
- Read the full text of the ad from the newspapers [PDF]
- Spread the word. Place a mini version of the ad on your website or blog.
- Learn about this July’s special Cato University on the impact of the economic crisis…and more.
- Learn more about the Cato Institute and how to support our work.
Must Read
"Spending Is Not Stimulus," by Daniel J. Mitchell, Tax & Budget Bulletin no. 53, February 2009.
"The Troubling Return of Keynesianism," by Ike Brannon and Chris Edwards, Tax & Budget Bulletin no. 52, January 2009.
"Deficit Spending: A Scenario Analysis," by Arnold Kling, Tax & Budget Bulletin no. 54, February 2009.
"We Can't Spend Our Way out of This Quagmire," by Lawrence H. White and David C. Rose, St. Louis Post-Dispatch, January 21, 2009
[Additional Cato research and commentary on the stimulus ]
"The Self-Defeating Stimulus," by Will Wilkinson, The Week, February 20, 2009
"A Plan to Kill Banks," by Allen Reynolds, New York Post, February 11, 2009
"Stimulus More Psychology Than Theory," by Will Wilkinson, Marketplace, February 11, 2009
"How Much Is Enough?," by Richard Rahn, Washington Times, February 11, 2009
"The Truth about Those Bonus Billions," by Alan Reynolds, Forbes, February 10, 2009
"To Cut Government Purse Strings, Just Say No," by David Boaz, Investor's Business Daily, February 9, 2009
"Slow Down the Political Response to a Perceived Crisis," by William A. Niskanen, Cato.org, February 9, 2009
"It's a Recession Not a 'Catastrophe'," by Alan Reynolds, New York Post, February 9, 2009
"Faith-Based Economics," by Alan Reynolds, National Review, February 9, 2009
"Transparency, Accountability, and the Debt Bomb," by Tad DeHaven, Cato@Liberty, February 6, 2009
"A Better Way to Generate and Use Comparative-Effectiveness Research," by Michael F. Cannon, Cato Policy Analysis, February 6, 2009
"'Buy American' Debate Is Not Dead Yet," by Daniel Ikenson, Cato@Liberty, February 5, 2009
"Investing in What Doesn't Work," by Adam B. Schaeffer and Neal McCluskey, RealClearPolitics.com, February 4, 2009
"Don't Call It "Stimulus"," by David Boaz, Cato@Liberty, February 4, 2009
""Economists across the Spectrum" Continue to Flee Stimulus Bill," by David Boaz, Cato@Liberty, February 3, 2009
"Daschle Care," by Michael F. Cannon, Washington Times, January 30, 2009
"The Optimum Government," by Richard W. Rahn, Washington Times, January 29, 2009
"How To Get Profitable Again," by Arnold Kling, Forbes, January 29, 2009
"Turning the Economy over to Politicians," by David Boaz, RealClearPolitics.com, January 29, 2009
"Economists against the Stimulus," by David Boaz, Cato@Liberty, January 28, 2009
"$646,214 Per Government Job," by Alan Reynolds, The Wall Street Journal, January 28, 2009
"Defense Doesn't Need Stimulus," by William D. Hartung and Christopher Preble, Washington Times, January 28, 2009
"Earmark Ban Only Treats a Symptom, Not the Problem," by Tad DeHaven, Cato@Liberty, January 26, 2009
"Republicans Seek Lasting Damage in the Stimulus," by Jim Harper, Cato@Liberty, January 26, 2009
"Feel like a Chump?," by Richard W. Rahn, Washington Times, January 22, 2009
"From John Law to John Maynard Keynes," by Steve H. Hanke, Globe Asia, February 2009
"Depressing Economics," by Alan Reynolds, Forbes, January 19, 2009
"Obama Stimulus Bears a Closer Look," by Will Wilkinson, Marketplace, January 14, 2009
"Making Work, Destroying Wealth," by David Boaz, Cato@Liberty, January 12, 2009
"$1.2 Trillion Deficit," by Chris Edwards, Cato@Liberty, January 7, 2009
"Prisoners against the Stimulus," by Chris Edwards, Cato@Liberty, January 5, 2009
"The Economy Needs a Shot in the Arm," by Jim Powell, Wasington Times, December 21, 2008
"Don't Be Frugal to Follow Recession Chic," by Will Wilkinson, Marketplace, December 17, 2008
"Jumping off the Government Bridge," by Chris Edwards and Peter Van Doren, National Review (Online), December 9, 2008
"The Fallacy That Government Creates Jobs," by Daniel J. Mitchell, Pajamas Media, December 5, 2008
"What Is Economic Stimulus?," by Richard W. Rahn, Wasington Times, December 3, 2008
"10 Reasons to Oppose a Stimulus Package for the States," by Chris Edwards, Cato Institue Tax & Budget Bulletin, December, 2008
"$1 Trillion Budget Deficit by 2017?," by Chris Edwards, Cato@Liberty, September 11, 2008
"Stimulus Package Is Welfare, Not Tax Cuts," by Chris Edwards, Cato@Liberty, January 24, 2008
"Bush's Stimulus Flop," by Alan Reynolds , The Wall Street Journal, January 22, 2008
"Keynesians in the White House," by Chris Edwards, Cato@Liberty, January 4, 2008
The Last Eight Years
In selling his big-spending ideas for reviving the U.S. economy, President Obama has chastised “the same policies that, for the last eight years, doubled our national debt, and threw our economy into a tail spin.” We couldn’t agree more with the president. Unfortunately, he seems unaware that exploding the size of government, as he is proposing to do with this stimulus package, is a remarkably Bush-esque ideal.
"Bush: The $3 Trillion Dollar Man," by Chris Edwards, Cato-@-Liberty, February 1, 2008.
"Bush's Overspending Problem," by Chris Edwards, The National Post, February 6, 2003.
"The Bush Legacy: Inflation or Deflation?," by Steve H. Hanke, Globe Asia, September 24, 2008.
"'Conservative' Bush Spends More than 'Liberal' Presidents Clinton, Carter," by Tad DeHaven and Veronique de Rugy, cato.org, July 31, 2003.
[Additional Cato research and commentary on the "Bush years" ]
"A Sweeping Rejection of President Bush," by David Boaz, Cato-@-Liberty, November 5, 2008.
"Bush’s Dismal Fiscal Record," by Daniel J. Mitchell, Cato-@-Liberty, February 12, 2008.
"Bush's Stimulus Flop," by Alan Reynolds, The Wall Street Journal, January 22, 2008.
"Tax Policy Under President Bush," by Chris Edwards, Fraser Forum, August 14, 2006.
"How Bush Bankrupted America," by Bruce Bartlett, Cato Policy Report, January 1, 2006.
"The Grand Old Spending Party: How Republicans Became Big Spenders," by Stephen Slivinski, Cato Policy Analysis, May 5, 2005.
"The Bush Betrayal," by David Boaz, Washington Post, November 30, 2003.
"On Spending, Bush Is No Reagan," by Veronique de Rugy and Tad DeHaven, Tax & Budget Bulletin no. 16, August 2003.
Multimedia
[More stimulus multimedia offerings]
"Brandon Arnold discusses the stimulus bill on FOX Business," February 9, 2009 [Flash Video, 2:38]
"Peter Van Doren discusses the stimulus bill on CNN," February 4, 2009 [Flash Video, 2:23]
"Brandon Arnold discusses the stimulus bill on FOX Business," February 4, 2009 [Flash Video, 2:30]
"Alan Reynolds discusses Cato's stimulus ad on FOX," January 28, 2009 [Flash Video, 3:28]
"The False Consensus for Stimulus" featuring Alan Reynolds, January 28, 2009 [Flash Audio, 08:31]
"Chris Edwards discusses the stimulus package on WOR's "The John Gambling Show"", January 28, 2009 [Flash Audio, 09:51]
"Tad DeHaven discusses the stimulus package on KTTH's "The David Boze Show"", January 27, 2009 [Flash Audio, 11:30]
"Daniel J. Mitchell discusses Obama's economic plan on CNBC," January 7, 2009 [Flash Video, 27:22]
"Daniel J. Mitchell discusses Obama's economic plan on NBC," January 5, 2009 [Flash Video, 2:21]
"Chris Edwards discusses Obama's stimulus package on PBS," January 2, 2009 [Flash Video, 2:17]
"Daniel J. Mitchell discusses whether a stimulus package will actually create jobs on Federal News Radio," December 31, 2008 [Flash Audio, 6:01]
"Dan Mitchell discusses the fallacies of Keynesian economics," December 15, 2008 [YouTube Video, 7:29]
"Chris Edwards discusses the stimulus breakdown on C-SPAN," December 21, 2008 [Flash Video, 27:22]
"Do Government Spending and Tax Rebates Stimulate Growth?," featuring Daniel J. Mitchell and Stephen J. Entin, Capitol Hill Briefing, December 18, 2008
"Cash Advance Stimulus," featuring Chris Edwards, January 18, 2008 [Flash Audio, 6:46]
"Is Fiscal Stimulus Desirable? If So, What Works Best?," featuring Douglas Holtz-Eakin and Chris Edwards, Cato Policy Forum, October 11, 2001
Featured Scholars
Books
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Downsizing the Federal Government by Chris Edwards (November 2005) |
Leviathan on the Right: How Big-Government Conservatism Brought Down the Republican Revolution by Michael D. Tanner (February 2007) |
Reflections of a Political Economist: Selected Articles on Government Policies and Political Processes by William A. Niskanen (August 2008) |
Global Tax Revolution: The Rise of Tax Competition and the Battle to Defend It by Chris Edwards and Daniel J. Mitchell (September 2008) |
About Cato * Supporting Our Work
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