“Here’s some data from the International Monetary Fund showing that the Canadian economy enjoyed very strong growth when policymakers imposed a near-freeze on government outlays between 1992 and 1997.  By the way, we also have a more recent example of successful budget reductions. Estonia and the other Baltic nations ignored Keynesian snake-oil when the financial crisis hit and instead imposed genuine spending cuts.  The result? Growth has recovered and these nations are doing much better than the European countries that decided that big tax hikes and/or Keynesian spending binges were the right approach.”

http://danieljmitchell.wordpress.com/2013/03/05/challenge-for-keynesian-anti-sequester-hysterics-why-did-canadas-economy-boom-when-the-burden-of-spending-was-sharply-reduced/

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