Another one on the austerity meme, after Piketty's K21, Floor System, macro wars, German trade, etc. (Need to clean up and link).
Neil Irwin sparked this discussion.
Ritholtz
Kevin Drum
Ritholtz and Biven mostly blame the Republicans and they do deserve the lion's share. But we must also remember Geithner saying stimulus gives a "sugary high" and Orzag saying we must cut the deficit so we can spend money on what we want. Obama even gave in to "sound finance" rhetoric when he said the government needs to tighten its belt like households are doing.
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