A Consensus Among Economists

It’s not surprising that the Libertarian leaning CATO Institute is not in favor of the “stimulus” plan that President Obama is now actively campaigning for. They have recently created a petition stating,

More government spending by Hoover and Roosevelt did not pull the United States
economy out of the Great Depression in the 1930s. More government spending did
not solve Japan’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 U.S.
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.

What is most impressive about the petition are the 200 noted economists that signed it, including several Nobel Laureates.

As President Obama and his team go on TV, on-line, and in house meetings and claim that there is a consensus among economists that we need this stimulus, come back and read this list.

Getting this economy fixed is not about consensus, it’s about history and experience. The New Deal failed to end the Great Depression, WWII did that. Over $6 TRILLION in government "stimulus" in Japan failed to improve their economy during the 1990s.

We don't need consensus, we just need common sense. (sorry I couldn't resist, I should have, but I couldn't)