This book presents overwhelming evidence that US government
stimulus programs over the past fifty years have not worked. Using
the best and most modern econometric testing models, it applies 228
separate hard science tests to examine the effects of different
stimulus models that should, in theory, have shown positive
results. By testing every possible alternative interpretation,
starting with one time period and then retesting in three
additional time periods, this definitive study finds that even when
favoring pro-stimulus Keynesian models, public financing through
government tax cuts and spending increase programs is more likely
to drive down - or "crowd out" - as much private sector spending as
it stimulates in the public sector.
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