Smart Talk On The Next Austerity Disaster

By Robert Borosage | January 28, 2013

The United States is in the midst of the most protracted unemployment crisis in modern history, and for vast segments of the population, the recession has never ended. Wages are still sinking; more than 20 million people are in need of full-time work. Yet, the national debate is fixated on fixing the debt rather than fixing the economy.

This is “austerity” economics, which demands cuts in government spending in the belief that this will reduce government deficits, even as it costs jobs and imposes hardships on people.