Fiscal austerity or deficit spending?
The Independent's Johann Hari makes the case against austerity. Moreover, he adduces that most unusual of elements in modern fiscal policy debates--actual real-world evidence, shockhorror!
The Conservatives' (and, if they keep gaining influence, the GOPs') plan to cut government spending in the face of recession is not only a bad idea, it's exactly the opposite of what governments should be doing. Deficits are a critical issue, but they're an issue we can't deal with until *after* the economy improves. And the economy is going to get WORSE if we impose austerity measure son government.
The Independent's Johann Hari makes the case against austerity. Moreover, he adduces that most unusual of elements in modern fiscal policy debates--actual real-world evidence, shockhorror!
The Conservatives' (and, if they keep gaining influence, the GOPs') plan to cut government spending in the face of recession is not only a bad idea, it's exactly the opposite of what governments should be doing. Deficits are a critical issue, but they're an issue we can't deal with until *after* the economy improves. And the economy is going to get WORSE if we impose austerity measure son government.