New IMF study finds budget cuts hurt economic growth but tax increases don't

new study, Fiscal Multipliers and the State of the Economy by the International Monetary Fund has found that budget cuts hurt growth a lot, but tax increases have a neglible impact on  economic growth. The study analyzed decades of data on the world’s major industrialized countries to estimate how changes in government spending or revenue affect economic output. Their advice, based on this study is that it is much better to deal with deficits by increasing taxes, rather than implementing drastic austerity budget cuts.