Economists Statement On Barack Obamas Risky Economic Proposals
100 Economists Warn That With Currrent Weak Financial Conditions Barack Obama's Proposals Run A High Risk
Of Throwing The Us Economy Into A Deep Recession
Today McCain Palin 2008 released the following statement signed by 100 distinguished and experienced economists at
major American universities and research organizations, including five Nobel Prize winners Gary Becker, James
Buchanan, Robert Mundell, Edward Prescott, and Vernon Smith. The economists explain why Barack Obama's proposals,
including misguided tax hikes, would decrease the number of jobs in America. The prospects of such tax rate increases
under Barack Obama are already harming the economy. The economists conclude that Barack Obama's economic
proposals are wrong for the American economy. The proposals defy both economic reason and economic experience.
The full economists' statement on Barack Obama's economic proposals and a complete list of economists who support it
follows
Barack Obama argues that his proposals to raise tax rates and halt international trade agreements would benefit the
American economy. They would do nothing of the sort. Economic analysis and historical experience show that they would
do the opposite. They would reduce economic growth and decrease the number of jobs in America. Moreover, with the
credit crunch, the housing slump, and high energy prices weakening the U.S. economy, his proposals run a high risk of
throwing the economy into a deep recession. It was exactly such misguided tax hikes and protectionism, enacted when
the U.S. economy was weak in the early 1930s, that greatly increased the severity of the Great Depression.
We are very concerned with Barack Obama's opposition to trade agreements such as the pending one with Colombia, the
new one with Central America, or the established one with Canada and Mexico. Exports from the United States to other
countries create jobs for Americans. Imports make goods available to Americans at lower p