On Fox News, Art Laffer claims stimulus packages under Bush and Obama “caused the Great Recession”
Published
Citation From the August 14 edition of Fox News' Your World with Neil Cavuto:
NEIL CAVUTO (HOST): A stimulus, that -- the kind that Byron Wein was talking about, either tax cuts, infrastructure, spending, it's still stimulus to him. What do you think?
ART LAFFER: I think tax cuts are. I think infrastructure spending is okay, it's far better than what we did in 2008 and 2007. If you'll remember the conversations -- you and I were the only two that didn't go for the stimulus packages, either Bush's or Obama's. I mean, Jack Kemp even went for them, all these other --
CAVUTO: No, I remember. that. Yeah --
LAFFER: -- If you'll remember those conversations. And I think that -- and they were the things that caused the Great Recession. I think monetary policy, quantitative easing which is going on right now is deadly for the markets, it's not good. And I think also the idea of stimulus spending like Obama did, and like George W. Bush did, is deadly for the economy too.