This from the website of the Heritage Foundation is useful for those looking for evidence to fight tax and spend liberalism and Krugmanism. It’s about Estonia – the tiny Baltic republic liberated nearly twenty years ago and one of the freest nations in the world today:
In the midst of a world embroiled in economic turmoil, a few nations have managed to do surprisingly well—among them, Estonia. After near economic collapse during the 2008–2009 financial crisis, the country has managed to successfully bounce backwith substantial GDP growth, a vibrant trade environment, and a notable budget surplus.
During the first quarter of this year, Estonia had the highest rate of growth in the EU and the biggest drop in unemployment. In July, its credit rating was raised by Fitch to A+, a reflection of substantial economic growth.
At this rate, Estonia might catch up to the USA in creditworthiness! The effort was not easy and it took political will we do not presently have. But, free markets work!