Lagging GDP Growth Shows Austerity Fixation Is Hurting Our Economy

TruthOut by Robert Borosage, | Apr. 29, 2011 (News Analysis)

The first quarter growth figures—annual growth of 1.8% during the first three months of the year—are an ominous reminder of the reality that Washington has forgotten.

This economy is in trouble. For most Americans, the recession has not ended. Growth is painfully slow. Unemployment remains high. Home values are dropping; gas prices are rising; wages are not keeping up.

Despite this—and despite the warnings of ... Full Story »

Posted by Dwight Rousu

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Subjects: U.S., Politics, Business
Topics: U.S. Economy, Republicans
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Posted by: Posted by Dwight Rousu - Apr 30, 2011 - 2:46 AM PDT
Reviewed by: Roland F. Hirsch (review)
Content Type: Article
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Edited by: Dwight Rousu - Apr 30, 2011 - 2:49 AM PDT

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Roland F. Hirsch
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 by Roland F. Hirsch - Apr. 30, 2011

This short blog post has no journalistic merit. It is bizarre: "austerity" with a Federal deficit of $1.5 TRILLION? Government overspending has been a serious drag on the economy, as the failed "Stimulus" of 2009 shows (even P{resident Obama admits it was a bad idea, two years later!). The "Campaign for America's Future" might supply the blogger with a copy of Thomas Sowell's Basic Economics before he writes another post like this.

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