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Austerity Economics

This Greek Tragedy Could Be Europe's As Well

Jeff Faux | Posted 07.04.2016 | Politics
Jeff Faux

Like the chorus of a drama played out in some ancient Athenian amphitheater, Europe's politicians and pundits chant that the Greeks deserve their fate; they violated the sacred dictum of the Gods of Finance -- that countries must not live beyond their means. Therefore, they must be punished.

13 Questions: About Greece, Europe, Austerity -- And Us

Richard (RJ) Eskow | Posted 04.07.2015 | Politics
Richard (RJ) Eskow

Every day brings more headlines in the European debt drama: "Greece elects anti-austerity government." "Greek Finance Minister says he won't negotiate with the 'Troika.'" "Anti-austerity movements gain ground across Europe." What's behind these stories? What does the future hold? Are there any implications for the U.S.? Here's an overview of the situation as it currently stands.

1 Country's Austerity Obsession Could Take Down The Global Economy

The Huffington Post | Mark Gongloff | Posted 11.05.2014 | Business

Austerity is the opposite of the gift that keeps on giving: It just keeps taking and taking. Germany, the world's homeland for austerity obsession,...

Washington's Multiple Hostage-Takings, Betrayals & The TPP Corporate Power Grab: Failure of Political Duopoly Cries for Alternatives

Michele Swenson | Posted 05.10.2014 | Denver
Michele Swenson

The consequent wealth concentration at the top coupled with worker insecurity are symptoms of economic crisis, as well as a crisis of democracy.

Luke Johnson

Here Are All The Times Congress Screwed Americans This Year In The Name Of Austerity | Luke Johnson | Posted 01.23.2014 | Politics

WASHINGTON -- As the year winds to a close, Congress is cautiously celebrating passing a year-end budget that relieves just about a third of the seque...

Growth vs. Austerity: A False Choice

Robert Hardaway | Posted 07.15.2013 | Business
Robert Hardaway

Promoters of austerity assert that when government deficits reach a certain critical level, economic growth becomes un-sustainable. Advocates of growth contend that austerity itself stifles growth.

Mark Gongloff

How Many Jobs We're Losing Thanks To Austerity | Mark Gongloff | Posted 06.07.2013 | Business

Austerity isn't just hurting the U.S. economy right now -- the damage is going to last for many years. A new study by the Center for American Progr...

Simpson-Bowles Austerity Gang: Go Home

Richard (RJ) Eskow | Posted 07.16.2013 | Politics
Richard (RJ) Eskow

Simpson and Bowles and austerity's other sales people aren't really economic thinkers. They're paid to pitch a product. They didn't invent austerity any more than Alex Rodriguez invented Pepsi. But what they're peddling isn't a soft drink. It's a lot worse for you than that.

Vice's Austerity Coverage Disappoints

Daniel Marans | Posted 07.10.2013 | Media
Daniel Marans

The research discrediting the Reinhart-Rogoff study is upending the economic policy discussion everywhere. Everywhere, apparently, except for HBO's new series Vice.

Austerity's Curveballs

Richard (RJ) Eskow | Posted 06.23.2013 | Politics
Richard (RJ) Eskow

The opportunists of austerity are as plentiful and as shameless as their military peers were regarding Iraq, and they share the same motivations: "tawdry ambitions, spineless leadership, and fear."

The Long Depression

Richard (RJ) Eskow | Posted 06.03.2013 | Politics
Richard (RJ) Eskow

The Long Depression isn't hitting us all at once. It's taking pieces out of us over the course of years. That's allowed people to define previously unacceptable economic conditions as "The New Normal."

If Government 'Acted Like a Business,' It Would Reject Today's Deficit Madness

Richard (RJ) Eskow | Posted 04.29.2013 | Politics
Richard (RJ) Eskow

We know that Washington insiders -- and their corporate sponsors -- will keep trying to perpetuate their self-serving mythologies. But let's stop saying that "government should act more like a business." They don't even know what that means.

The Verdict Is In: GOP Austerity Proposals Are Toxic for Our Economy

Robert Creamer | Posted 04.02.2013 | Politics
Robert Creamer

Whatever the reason, it doesn't take a rocket scientist to understand that if government spending drops, there will be less overall demand in the economy and fewer goods and services will be produced. But Republicans simply won't admit that is true.

The Trillion-dollar Coin's Week of Fame

Mike Sandler | Posted 03.20.2013 | Business
Mike Sandler

As the Vatican learned with Galileo, the truth has a way of resurfacing. Be on the lookout for debt-free, interest-free money, coming soon to a country-needlessly-plunged-into-recession-by-austerity near you.

CEOs Wrong To Promote Dangerous Budget Cuts, 350 Economists Say

The Huffington Post | Bonnie Kavoussi | Posted 11.14.2012 | Business

More than 80 high-profile CEOs just penned a letter calling for deep budget cuts to avert to reduce the deficit, but hundreds of economists warned on ...

Strange Times

Mike Lux | Posted 12.19.2012 | Politics
Mike Lux

I am deeply aware of the irony of talking about taking Obama on in a big fight right after an election battle where I am so strongly supporting his reelection. Welcome to politics in 2012.

Austero-Erotic Fantasies for the Elites, Terror for Everyone Else

Richard (RJ) Eskow | Posted 09.24.2012 | Politics
Richard (RJ) Eskow

Austerity economics is a proven failure which benefits the wealthy and brings misery to everyone else. Who'll tell the voters, if Democrats won't?

December Surprise? From Rubin to Pelosi, Wall Street & DC Dems Push Post-Election Austerity

Richard (RJ) Eskow | Posted 07.30.2012 | Politics
Richard (RJ) Eskow

"Take back your party," Pelosi recently advised traditional Republicans. "This is not the Grand Old Party that we know." Take back your party: That's sound advice -- for everyone in Washington.

Talking With Krugman: He's Anti-Austerity, Pro-Peter Gabriel, and "Not That Cosmic"

Richard (RJ) Eskow | Posted 07.15.2012 | Politics
Richard (RJ) Eskow

Paul Krugman's book is called End This Depression Now! (exclamation point included). If that sounds like a self-help book -- the sequel to Listening to Prozac, maybe, or something by Dr. Wayne Dyer -- that's not altogether inappropriate in this age of collective near-despair.

Sarkozy's Footsteps: Will the Democrats Be Next?

Richard (RJ) Eskow | Posted 07.07.2012 | Politics
Richard (RJ) Eskow

Democrats should consider Sarkozy's fate a cautionary tale -- and a call to action. If they rally around the cause of growth, jobs, and optimism, the nation will benefit and they'll rewarded at the polls.

Krugman: Europe Proves Austerity Doctrine 'A Failure Of Policy'

The New York Times | Paul Krugman | Posted 03.02.2012 | Business

Last week the National Institute of Economic and Social Research, a British think tank, released a startling chart comparing the current slump with pa...

Austerity for Dummies: The 3-Minute Guide to a Bad Idea

Richard (RJ) Eskow | Posted 03.10.2012 | Business
Richard (RJ) Eskow

"I feel stupid," someone said the other day. "I consider myself well-informed, but I have no idea what the term 'austerity economics' really means." Actually it's not that complicated, and most of the lesson plan can be found in today's headlines.

Notable Death of the Year: RIP Austerity Economics, 1921-2011

Richard (RJ) Eskow | Posted 02.26.2012 | Business
Richard (RJ) Eskow

"Austerity economics" never calls for austerity from those who have gotten rich by being irresponsible, only from those who didn't benefit from it at all.

Britain's Massive Anti-Austerity Strike: Could It Happen Here?

Richard (RJ) Eskow | Posted 01.30.2012 | Politics
Richard (RJ) Eskow

Austerity economics is dominating our politics, too. We're being subjected to the same warped economic strategies that decimated Britain's economy, and our austerity crowd isn't any more deterred by reality than theirs is.

Stop the Austerity Train Wreck!

Robert Reich | Posted 01.18.2012 | Politics
Robert Reich

2011-11-18-supercommitte.jpgThe biggest question right now on Planet Washington is whether the congressional supercommittee will reach an agreement. That's the wrong question.