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InsiderOnline Blog: February 2011

Lessons in Fiscal Restraint

U.S. lawmakers grappling with trillion dollar budget deficits can learn from the experiences of Canada, Ireland, Slovakia, and New Zealand. Ireland in the mid-1980s, Canada and New Zealand in the early 1990s, and Slovakia in the early 2000s all reduced their budget deficits by restraining the growth of government spending. Most importantly, all those countries experienced strong economic growth after they got control of spending. Dan Mitchell discusses these experiences in the video below:

Canadian policymakers, by the way, are once again facing the need to address budget deficits. They too can learn from their history, and the Fraser Institute has a new paper on that theme; see “Budget Blueprint How Lessons from Canada’s 1995 Budget Can Be Applied Today,” by Niels Veldhuis, Jason Clemens, and Milagros Palacios.

Posted on 02/25/11 11:06 AM by Alex Adrianson

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