BY RAND PAUL
Americans are told that they face a "fiscal cliff" if automatic federal spending cuts and tax increases occur at the end of the year. I'm not in favor of jumping off a cliff, but the logic of the supposed threat needs to be questioned.
The fiscal-cliff narrative assumes that spending cuts are bad for the economy. It follows, then, that more spending (and therefore more government debt) are good for the economy.
Didn't we try that with President Obama's trillion-dollar deficit-spending spree? You remember the stimulus—the one that created or "saved" American jobs at a cost of $400,000 per job. ...
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