Austerity In Action

Two links that show the results of restrained government spending and lower taxes:

*a study from a UK think tank (via Dan Mitchell’s blog) that compares small government countries to big government countries and their respective economies. Result: countries with bigger gummint experience less economic growth. Also, 10% increases in outlays and tax burden lower economic growth by approximately 1%.

*Canadian austerity reforms in the ’90s led to a major reduction in unemployment.

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