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The Flimsy Case for Stimulus Spending

February 14, 2013 in Uncategorized

Why in the world are we all Keynesians again? The stimulus spending of the 2009 American Recovery Reinvestment Act has been an apparent failure. Yet many pundits, policymakers, and academics continue to encourage additional increases in government spending. A new Cato study from Andrew T. Young evaluates the effectiveness of fiscal stimulus policies. “Given weak evidence of significant short-run benefits,” argues Young, “it is hard to justify stimulus spending packages in light of the almost certain and large long-run costs.”

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