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Fiscal Reality Central

The Oregon Legislature is poised to load state residents with more debt. Pro-debt legislators should be tarred and feathered for continued fiscal irresponsibility. Beyond being irresponsible, this debt-spending spree will cause long-term damage, especially in light of an increasing money supply [1]. (Easy money helped create the current malaise and was a key cause [2] of the Great Depression.) To counter this federal and state jog to the economic cliff, the Cato Institute created Fiscal Reality Central [3] to provide true solutions, not elixir. Further, Cato has placed ads [4] in The New York Times, Washington Post and others, signed by countless economists, pointing out: “More government spending by Hoover and Roosevelt did not pull the United States economy out of the Great Depression in the 1930s. More government spending did not solve Japan’s “˜lost decade’ in the 1990s. As such, it is a triumph of hope over experience to believe that more government spending will help the U.S. today.”

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