Navigation

 

Home / Index of Authors


Streithorst, Tom


RSS Subscribe to receive the texts of "Streithorst, Tom" as RSS feeds


1 article of this author has been cited in the European Press Review so far.


Prospect - United Kingdom | 26/02/2013

Budget cuts would harm US economy

If the Democrats and Republicans fails to agree on a joint plan by Thursday, the US will automatically be subject to 85 billion dollars in spending cuts for this year as of March 1. That would be a dangerous situation, the left-liberal monthly Prospect writes: "When airport delays become endemic, when pre-school education programmes are eliminated and when the economy slows unnecessarily, it might remind Americans that government does in fact have a purpose. The saddest thing is that this episode is utterly unnecessary. The budget deficit is already declining both nominally and as a share of GDP. These days just about everybody but George Osborne and the Bundesbank recognises that cutting government spending during a recession is a prescription for pain. Austerity has been tried and it has failed. ... If the Republicans don't make a deal soon, Obama will have a magnificent opportunity to show voters that cutting government isn't a panacea. Sometimes it is a mistake."

» Index of Authors


Other content