Alberto Alesina has written another paper on why cutting spending is good for you. Titled “The Design of Fiscal Adjustments” it demonstrates what anyone who understands Say’s Law perfectly well understands, that cuts to public spending lifts an economy rather than depresses it. The abstract, cautiously written of course, but you will get the drift:

This paper offers three results. First, in line with the previous literature we confirm that fiscal adjustment based mostly on the spending side are less likely to be reversed. Second, spending based fiscal adjustments have caused smaller recessions than tax based fiscal adjustment. Finally, certain combinations of policies have made it possible for spending-based fiscal adjustments to be associated with growth in the economy even on impact rather than with a recession. Thus, expansionary fiscal adjustments are possible.