Hasta La Gadget!

For four long years after the recession officially ended, conservative austerity policies have sabotaged America’s economic recovery, condemning millions of Americans to unemployment and poverty.  And in Europe, the same policy regime of spending cuts aimed at deficit reduction has thrown most of the continent back into recession.

Austerity has been intellectually discredited in recent months.  But conservative spending cuts still dominate policy.  And last week’s jobs report shows public sector layoffs are still a serious drag on the US economy.

Economists at the Political Economy Research Institute found fundamental flaws in the work of Harvard’s Reinhart and Rogoff — up until then conservatives’ best case for austerity.  But, despite this intellectual victory, sequestration still cripples our recovery.

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