(Washington, D.C., Tuesday, February 22, 2011) A new video released today by the Center for Freedom and Prosperity Foundation (CF&P) examines how foreign countries have successfully solved fiscal problems by restraining the growth of government spending. Entitled, "Spending Restraint, Part II: Lessons from Canada, Ireland, Slovakia, and New Zealand," the mini-documentary is a follow-up to CF&P’s last video, which demonstrated how Ronald Reagan and Bill Clinton successfully curtailed the burden of government.
Dan Mitchell, a Senior Fellow at the Cato Institute, explains in the video that Canada, Ireland, Slovakia and New Zealand are examples of how to solve America’s fiscal crisis. All of these nations made big improvements in fiscal policy by capping the burden of government spending. In only a few years, each country was able to dramatically reduce the share of GDP consumed by the public sector while also slashing deficits, and in some cases even turning them into surpluses.