Fiscal Austerity: A Deficit of Common Sense | The Economist

We hear so much about the need to responsibly reduce the budget deficit. Some are unmovable in their support of cold, program reducing austerity or tax increases, others intractable in their arguments for economic stimulus. The Economist explains that under a range of different circumstances, one or the other could be the better answer--or a combination of both. But with interest rates so low, the recovery so fragile, and program reform nowhere in sight, it appears clear austerity is the greater threat to America right now, especially as we must soon look over the so-called "fiscal cliff."

 

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http://www.economist.com/news/leaders/21565211-debate-about-budget-cuts-has-become-dangerously-theological-deficit-common-sense