Roosevelt Institute Director Mike Konczal said government austerity causes leaders to slash budgets when spending is most needed.
Spending during a crisis mitigates the effects of a recession, but many politicians still believe trickle-down economics — where the wealthy will stimulate the economy — will resolve a downturn.The word "austerity" hasn't taken hold in popular discussion here in America the way it has in the United Kingdom.
The problem, Konczal explained, is that an austerity mindset of cutting government programs, investments, and offices is "counterproductive" when a recession hits because it smothers consumer demand at a time when the economy is already hurting, which "makes the situation worse" and prolongs the downturn.
" when considering additional stimulus measures? Is he really that concerned about balancing the budget? McConnell's record makes it abundantly clear that he's an anti-government trickle-downer, of course. He's the kind of lawmaker who'd step square on the back of a poor constituent in order to hand a fat tax cut to a CEO.In fact, McConnell's love of tax cuts puts the lie to all his austerity talk.
paulconstant What a cheap shot hit piece. Fake News.
paulconstant Now tell me something new about the turtle.
paulconstant The GOP screams for austerity only when a Democrat is in the White House because they know it will shrink the economy and make Democrats look bad. They NEVER slash the budget when they're in charge. Are you kidding? It would be suicidal and they know it.
paulconstant
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