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Welcome to the Tea Party's Austerity Recession

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Welcome to the Tea Party's Austerity Recession Empty Welcome to the Tea Party's Austerity Recession

Post by Guest Tue Aug 02, 2011 10:38 am

Economic historians will look back on this era as a time when policy-makers damaged Americans' welfare with ideologically driven, self-inflicted wounds.

We got into this recession when the American people lost not only jobs, but also $14 trillion in wealth during the crash, and pulled back on spending as a result. But we're stuck treading water, two years after the “recovery” officially began, in large part because of the age of austerity – due to cuts forced on us by this misguided and shortsighted view that large deficits are a cause, rather than an effect, of the downturn.

The American economy is heading into dark waters, but the coming "austerity recession" won't only be a result of the tireless efforts of a small band of conservative ideologues bent on dismantling the social safety net that emerged during the last century. It will also be a consequence of a crippling intellectual crisis among our elites.

http://www.alternet.org/story/151873/welcome_to_the_tea_party%27s_austerity_recession




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Welcome to the Tea Party's Austerity Recession Empty Re: Welcome to the Tea Party's Austerity Recession

Post by Hunterforjobs Tue Aug 02, 2011 12:38 pm

And there be hungry sharks in those dark waters.
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