David Blanchflower, Bloomberg News/Minneapolis Star Tribune | MN
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Photo Credit: AMagill
Sorry, fiscal austerity doesn't work. For evidence, look no further than Britain.
This can't be good news for the U.S. political right, whose mantra has been: cut spending, put a lid on deficits, and growth will improve.
All sorts of good things, it is claimed, will spring from a turn to austerity that stops all this stimulus nonsense and prevents the Federal Reserve from doing more quantitative easing.
Lesson From Europe: Fiscal Austerity Kills Economies, Marshall Auerback, new deal 2.0
Following faux-reasonable Rubinite advice will only put Americans further into debt.
Media Unwittingly Plays Republicans' Deficit Game ... Again, Paul Krugman, Krugman & Co./Truthout