All Commentary
Wednesday, May 23, 2012

Budget Office Warns of New Recession


“The economy could relapse into a recession if President Obama and Congress remain at an impasse and allow several big tax increases and spending cuts to take effect at the start of 2013, the Congressional Budget Office reported on Tuesday.” (New York Times)

Stuck on the misconception that spending cuts cause recessions.

FEE Timely Classic
“What Spending and Deficits Do” by Henry Hazlitt