368 Economists Against Kerrynomics: The challenger’s policies would bring “a lower standard of living for the American people.”
Leading economists have a message for America: “John Kerry favors economic policies that, if implemented, would lead to bigger and more intrusive government and a lower standard of living for the American people.”
That was the conclusion released in a statement Wednesday by 368 economists, including six Nobel laureates: Gary Becker, James Buchanan, Milton Friedman, Robert Lucas, Robert Mundell, and — the winner of this year’s Nobel Prize in Economics — Edward C. Prescott. The economists warned that Sen. Kerry’s policies “would, over time, inhibit capital formation, depress productivity growth, and make the United States less competitive internationally. The end result would be lower U.S. employment and real wage growth.”
The article states that
- The proposed tax increases would offset only a fraction of Kerry’s new spending
- Kerry’s government-run health insurance spending plan would by itself require a tax increase of more than $1 trillion
- vows not to “sign any new trade agreements until the review is complete and its recommendations [are] put in place.” According to the 368 economists, “That’s a prescription for political gridlock. Given the widespread benefits of unfettered trade, Kerry’s trade policies would harm U.S. producers and consumers alike.”
If any of the visitors to this blog have their own blog, please link to the article above. The odds are that the MSM will do its outmost to ignore the facts.