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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How IBM is automating IT to help companies maintain business continuity during crises - Business InsiderIBM is rolling out a new suite of AI for IT tools and services that can help CIOs in all industries reduce costs and handle more complex networks.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Blackburn: Deregulation helps US business coronavirus pandemic recovery - Business InsiderIn addition to direct support, the government should cut regulations that may stifle businesses from bouncing back after the coronavirus pandemic. MarshaBlackburn Marsha is as ethical as a Hyena who just ate her siblings. She's betrayed the TN voters by blocking election security, blocking women's health access, and blocking environmental protection. Cancer is a better advocate for Healthcare than Marsha Blackburn. MarshaBlackburn Here is the Pandemic being used as another excuse to remove regulations for the public from business. Regulations which are protections for the public against abusive business practices. MarshaBlackburn Cuz profits over people! Send those warriors out to die! Cuz stock market! GOP the party of hatred and greed is just a fvcking criminal enterprise
Source: BusinessInsider - 🏆 729. / 51 Read more »
Thought leaders reassessing and reimagining the economy and capitalism - Business InsiderThought leaders from French President Emmanuel Macron to billionaire Mark Cuban have said business needs to prioritize people over profit from now on. Yeah. It doesn't look serious enough when it's i who calls for it. Since day1. So it takes 6 experts to parrot me.
Source: BusinessInsider - 🏆 729. / 51 Read more »
These states are reopening economies amid the coronavirus pandemic - Business InsiderFlorida and Georgia were among the first to begin reopening, while states like Utah and North Dakota were never fully 'shut down' in the first place.
Source: BusinessInsider - 🏆 729. / 51 Read more »
10 things in tech you need to know today - Business InsiderAirbnb is cutting 25% of staff — 1,900 jobs — after its business has been slammed by the coronavirus crisis.
Source: BusinessInsider - 🏆 729. / 51 Read more »
10 things you need to know before the opening bell - Business Insider10 things you need to know before the opening bell
Source: BusinessInsider - 🏆 729. / 51 Read more »