A poor economy is never popular with the populace. But when the economy is slow and people are suffering as a result of government policies that impose austerity on them, people get downright upset. They even get violent. It's something we should think about as virtually all major developed nations have embraced policies of cutting … Continue reading Learning From Austerity In the Past. A Warning?
spending cuts
Arithmetic, Reality, and Dreams of A Balanced Budget
Apparently, the Republicans and Tea Partiers are insisting that the federal government budget be balanced immediately (the demand for no increase in the debt ceiling) and that it be done entirely from spending cuts (the "no tax increases" pledge) to discretionary spending. This is enough to demonstrate that they simply are not dealing in reality … Continue reading Arithmetic, Reality, and Dreams of A Balanced Budget
EconProph 