The New York Times (July 30)
2011/ 08/ 02 by jd in Global News
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.”
Tags: Austerity, Budget, Debt, Depression, Economy, Recession, Spending, U.S.
