Posted on 12/13/2011 5:57:17 PM PST by decimon
Europe is in the midst of a fiscal crisis caused by too much government spending, yet many of the continent’s politicians want the European Central Bank to purchase the dodgy debt of reckless welfare states such as Spain, Italy, Greece, and Portugal in order to prop up these big government policies.
So it’s especially noteworthy that economists at the European Central Bank have just produced a study showing that government spending is unambiguously harmful to economic performance. Here is a brief description of the key findings.
…we analyse a wide set of 108 countries composed of both developed and emerging and developing countries, using a long time span running from 1970-2008, and employing different proxies for government size… Our results show a significant negative effect of the size of government on growth. …Interestingly, government consumption is consistently detrimental to output growth irrespective of the country sample considered (OECD, emerging and developing countries).
(Excerpt) Read more at forbes.com ...
“government consumption is consistently detrimental to output growth irrespective of the country sample considered “
Captain Obvious rides again!
well, that’s not effing rocket science. we’ve been screaming this forever and the libtards keep spending.
Government spending has to be paid for by taking it out of the citizens’ pockets. Libtards want no limit to confiscate from whoever they’re demonizing at the moment.
There really needs to be a push to demonize the government spenders rather than the people who do not want to meekly have their money legally stolen from them by the very same government spenders.
Statists don’t care about economic growth.
Imagine that, I’m shocked.......
It may not be rocket science, but the idiots in Congress dont get it........
The only growth they care about is their own power.....
From the "Duh" chronicles!
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