Friday, August 19, 2011

"The Wrong Idea: austerity on autopilot"

NY Times (editorial):
Stocks on Wall Street dropped sharply on Thursday, with investors spooked, again, about the euro-zone debt crisis and the sputtering United States economy.

Yet, even at this hour, leaders on both sides of the Atlantic seem determined to handcuff fiscal policies — the main tools that can increase jobs, consumer demand and economic growth — with an unquestioning devotion to rigid austerity. MORE...

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