Historically, spending cuts only are more effective: <http://washingtonexaminer.com/opinion/op-eds/2012/05/two-kinds-austerity/596441>
"In a 2009 paper, Harvard University's Alberto Alesina and Silvia Ardagna looked at 107 attempts to reduce the ratio of debt to gross domestic product over 30 years in countries in the Organisation for Economic Co-operation and Development. They found fiscal adjustments consisting of both tax increases and spending cuts generally failed to stabilize the debt and were also more likely to cause economic contractions. On the other hand, successful austerity packages resulted from making spending cuts without tax increases. They also found this form of austerity is more likely associated with economic expansion rather than with recession." I think we should be talking about what programs to eliminate to stabilize the debt rather than some episode from Mitt Romney's high school years. The truth is that Democrats don't want to cut anything, but don't want Americans to know how much taxes must be raised. That's why they won't pass a budget, and prefer instead to keep raising the debt ceiling. That's why they're the irresponsible party and why they'll get tossed in November. I can't wait! -- You received this message because you are subscribed to the Google Groups "StrataList-OT" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/stratalist-ot?hl=en.
