CATO Institute is a research institute. We believe that CATO provides some reliable information, seeing as they cite reliable sources. These references are included on the site. CATO is nonpartisan and is not government-funded. While their content isn't influenced by the government, it is possible that they publish information that favors their donors. Some things they've published in the past have indicated their tilt towards the right-wing, though a less significant portion of their content is liberal. Overall, their information is probably valid but their conclusions show that they are neither trustworthy nor reliable.
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