The New York Times (July 30)
Just when “the economy needs more spending,” everyone is focused on the debt limit and spending cuts. “The premature budget tightening of 1937… reignited the Depression,” and increasingly we look posed to make the same mistakes. The Times does not argue for unlimited spending. “Budget cuts are unavoidable — but they are not urgent. With the economy weak and interest rates low, austerity makes no sense.”
The Economist (July 30)
America and Europe are “turning Japanese.” Their politicians are failing to meet their obligations and make difficult decisions. The Economist does not welcome this trend. “Japan’s politicians had umpteen chances to change course; and the longer they avoided doing so, the harder it became. Their peers in the West should heed that example.”
America and Europe are “turning Japanese.” Their politicians are failing to meet their obligations and make difficult decisions. This newspaper does not welcome this trend. “Japan’s politicians had umpteen chances to change course; and the longer they avoided doing so, the harder it became. Their peers in the West should heed that example.”
Tags: Europe, Japan, Politicians, U.S.
