The deficit has been falling, but cuts in government investment will only blow it back up.AlterNet
How the Economic Quacks Promoting Austerity Will Increase the Deficit
Marshall Auerback
(h/t Kevin Fathi via email)
Thursday, February 28, 2013
Marshall Auerback — How the Economic Quacks Promoting Austerity Will Increase the Deficit
How the Economic Quacks Promoting Austerity Will Increase the Deficit
Marshall Auerback
(h/t Kevin Fathi via email)
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I suspect that what motivates “austerians” is to some extent religious zeal. It’s clear from history that humanity needs a religion, plus all religion involves sacrifice. E.g. human sacrifice in the case of the central American Aztec religion centuries ago. And in ancient Egypt they devoted half their GDP to a totally futile activity: building pyramids.
The new austerity religion involves sacrifice: sacrifice by those at the bottom (much like in ancient Egypt where the elite no doubt did alright, while those at the bottom sweated their guts out in the sun building pyramids).
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