Why Obama Must Meet the Republican Lies Directly | Common Dreams

27 Feb

The first big lie is austerity economics – the claim that the budget deficit is the nation’s biggest economic problem now, responsible for the anemic recovery.

Wrong. The problem is too few jobs, lousy wages, and slow growth. Cutting the budget deficit anytime soon makes the problem worse because it reduces overall demand. As a result, the economy will slow or fall into recession – which enlarges the deficit in proportion. You want proof? Look at what austerity economics has done to Europe

via Why Obama Must Meet the Republican Lies Directly | Common Dreams.

 

He may be short…but he is tall on ideas!  Go Robert Reich

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