In a survey published by Scioto Analysis this morning, only 5 of 24 Ohio economists agreed state spending cuts during the pandemic will lead to more economic growth for Ohio in the long run.
Among those who disagreed with the statement that pandemic spending cuts will lead to greater economic growth in the long run, multiple economists cited the value of state spending during a recession to offset a private sector economic slowdown. Another topic that multiple economists touched on was the long-term impact of short-term reductions in K-12 and higher education spending.
Those who agreed with the statement emphasized the role that federal funds played in stabilizing the state budget and how those likely offset spending cuts made by the state. They also focused on the role of fiscal stability in state economic stability in the long run.
The Ohio Economic Experts Panel is a panel of over 40 Ohio Economists from over 30 Ohio higher educational institutions conducted by Scioto Analysis. The goal of the Ohio Economic Experts Panel is to promote better policy outcomes by providing policymakers, policy influencers, and the public with the informed opinions of Ohio’s leading economists.