Economics
College of Humanities and Social Sciences

Russ Roberts Testifies for Subcommittee on Regulatory Affairs: Stimulus Oversight & Govt Spending

In Dr. Russ Roberts’ testimony to the Subcommittee on Regulatory Affairs:  Stimulus Oversight and Government Spending, he explains what went wrong with the stimulus packages.  He purports that the Keynsian models that justify the stimulus package were flawed.  He states that Keynsian models have been wrong before and sites examples of government actions during World War II.  Dr. Roberts’ advice to the subcommittee: “Let’s get back to basics; when you’re in a hole, stop digging.  Stop running deficits of over 1.5 trillion dollars and counting. Act like grownups; get your fiscal house in order.  Stop spending 25% of what we produce.  Stop wasting my money and giving it to your friends.  Stop passing legislation that makes it hard to figure out what the rules of the game are going to be.  Get out of the way; make government smaller and give us a chance to do what comes naturally, seeking ways to make profit, avoid loss, and work together.”

Dr. Roberts' Testimony video (short in duration)

Entire Subcommittee Meeting video (long in duration)

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