In response to:

Switzerland’s “Debt Brake” Is a Role Model for Spending Control and Fiscal Restraint

Don't Tread On Me3 Wrote: Apr 28, 2012 9:42 AM
I thought that sentence was a misprint, since doctrinaire Keynesians ( & pols who embrace Keynsianism as an excuse to $pend $pend $pend) would HATE any check or barrier to just $pending even more on any pretext. I thought "appeals" was intended to be "does not appeal" ?
Reginald10 Wrote: Apr 28, 2012 3:25 PM
I believe that, since spending is geared to trendline revenue, if revenue takes a sharp dip spending may continue (allowing deficit spending in a recession, within limits). This is in accord with Keynesian theory.

I’ve argued, ad nauseam, that the single most important goal of fiscal policy is (or should be) to make sure the private sector grows faster than the government. This “golden rule” is the best way of enabling growth and avoiding fiscal crises, and I’ve cited nations that have made progress by restraining government spending.

But what’s the best way of actually imposing such a rule, particularly since politicians like using taxpayer money as a slush fund?

Well, the Swiss voters took matters into their own hands, as I describe in today’s Wall Street Journal.

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