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When Austerity Fails Empty When Austerity Fails

Post by Guest on Mon May 23, 2011 12:01 am

Paul Krugman
The Conscience of a Liberal


I often complain, with reason, about the state of economic discussion in the United States. And the irresponsibility of certain politicians — like those Republicans claiming that defaulting on U.S. debt would be no big deal — is scary.

But at least in America members of the pain caucus, those who claim that raising interest rates and slashing government spending in the face of mass unemployment will somehow make things better instead of worse, get some pushback from the Federal Reserve and the Obama administration.

http://www.nytimes.com/2011/05/23/opinion/23krugman.html?smid=tw-nytimesopinion&seid=auto

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