The coronavirus is battering the U.S economy as businesses cut back and close down. Unfortunately, federal policymakers are pursuing their usual misguided response to all crises—passing a big stimulus bill that will accomplish little except putting the government further into debt. After the financial crisis a decade ago, Congress passed an $800 billion stimulus and we suffered the slowest recovery since World War II.
Government spending to boost demand won’t help the economy when supply chain disruptions and safety fears are restricting production. Rather than stimulate demand, governments should repeal regulations that aren’t in place for legitimate safety reasons.
Read more at https://www.cato.org/blog/slashing-regulations-combat-coronavirus
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