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Austerity - a sure path to a bad economy

Wed, 02/02/2011 - 09:40 — Dave Culver
Section(s): 
Economics
  • You want evidence? Take a look at what's happening in Britain now.
  • Lesson From Europe: Fiscal Austerity Kills Economies
  • Media Unwittingly Plays Republicans' Deficit Game

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.

More...

Related:

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

  • Why were journalists and commentators so blind? I suspect it had to do with their desire to seem neutral. In order to show how even-handed and open-minded they were, journalists felt that they had to find Republican fiscal heroes. Reporting that the whole deficit debate was a political ploy, lacking any substance, would have sounded shrill.
  • Molly Ivins on fair and balanced news

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