Notwithstanding reports that all economists are now Keynesians 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
Hooverand Roosevelt did not pull the economy out of the Great Depression in the 1930s. More government spending did not solve United States '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 Japan 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. U.S.
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