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Fiscal Austerity

UN Agency: 'Austerity Has Not Produced More Economic Growth'

Reuters | Posted 06.29.2012 | Business

* U.N. agency blames austerity, tough reforms for crisis * Says employment not back to pre-crisis levels til 2016 * Esti...

GOP Spokeswoman: Republican Economic Platform Same As Under Bush, Just 'Updated'

The Huffington Post | Melissa Jeltsen | Posted 04.24.2012 | Politics

The GOP's economic platform will be the same as that under former president George W. Bush, just 'updated,' according to comments from a Republican Na...

The Austerity Death Trap

Robert Reich | Posted 12.19.2011 | Politics
Robert Reich

Unless the GOP agrees to a budget deal before year's end, the payroll tax cuts and extended unemployment benefits we have now will end. The scale of this fiscal contraction would be almost unprecedented.

Rick Perry's Anti-Science America

Paul Stoller | Posted 11.22.2011 | College
Paul Stoller

Should an anti-science candidate like Rick Perry get elected to the U.S. presidency, what might we expect in the world of higher education?

Lucia Graves

Liberal Tea Party? U.S. Uncut Disrupts Service At Bank Of America

HuffingtonPost.com | Lucia Graves | Posted 05.25.2011 | Business

Demonstrators posing as a liberal Tea Party disrupted service at banks across the country on Saturday, in an effort to spotlight the gimmicks multi-bi...

Lesson From Europe: Fiscal Austerity Kills Economies

Marshall Auerback | Posted 05.25.2011 | Business
Marshall Auerback

Neither Altman nor Rubin understand that it would be ruinous for this country if the federal government took their advice. Why let evidence get in the way of a good neo-liberal theory?

Casting Light on "The Moment of Truth"

James K. Galbraith | Posted 05.25.2011 | Politics
James K. Galbraith

When middle class families take a moment from their own budget plans to examine the deficit commission's, they'll notice that the sacrifices so nobly embraced by "their leaders" will actually fall on them.

Bankers Gone Wild in Ireland and Germany

Marshall Auerback | Posted 05.25.2011 | Business
Marshall Auerback

Not only has the Irish crisis blown apart the myth of the virtues of fiscal austerity during rapidly declining economic activity, but it has also illustrated that Germany's bankers were every bit as culpable as their Irish counterparts.

The Story Behind Obama's Remarks on FDR

Thomas Ferguson | Posted 05.25.2011 | Politics
Thomas Ferguson

FDR was simply not willing to make the kind of arrangements with bankers that President Obama was. That's the heart of the matter.

Deficit Commission's Extreme Proposals Spell Disaster

Jeff Madrick | Posted 05.25.2011 | Business
Jeff Madrick

The draft proposal released yesterday by the two chairmen of President Obama's fiscal commission is conceived and written in panic. It is a profoundly ideological and entirely unrealistic set of policy prescriptions.

Main Street Is Dying a Death by a Thousand Spending Cuts

Marshall Auerback | Posted 05.25.2011 | Business
Marshall Auerback

Fiscal austerity proponents are clueless about the functioning of real economies and monetary systems. Hacking away the last vestiges of fiscal support will simply ensure much more misery, unemployment and social turmoil in the years ahead.

Sow the Seeds of Long-Term Growth

Jeffrey Sachs | Posted 05.25.2011 | Business
Jeffrey Sachs

The striking feature in the current debate about austerity and stimulus has been the lack of attention to investment -- in physical and human capital -- as the proper way back to sustained growth.

The Self-Inflicted Insanity of American Unemployment

Marshall Auerback | Posted 05.25.2011 | Politics
Marshall Auerback

The decline in the unemployment rate merely reflects a decline in participation rates. It's less a bellwether of economic strength and more a cri de coeur of despair.

Paul Krugman: Myths of Austerity

nytimes.com | PAUL KRUGMAN | Posted 05.25.2011 | Business

When I was young and naïve, I believed that important people took positions based on careful consideration of the options. Now I know better. Much of...

Fiscal Austerity Fever Goes Global

Marshall Auerback | Posted 05.25.2011 | World
Marshall Auerback

In defense of the current Greek, Spanish and Portuguese governments, they find themselves in a fiscal straitjacket not of their own making. The UK, by contrast, is willingly choosing to commit economic suicide.