Perfect Time For Austerity

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First quarter GDP revised downward to a 0.4 percent growth rate. Second quarter GDP grew at a lower-than-expected 1.3 percent.

Let’s go ahead and suck some more demand out of the economy by cutting government spending. But first, it’d be a good idea to roil the credit markets by flirting with government default.

Anything we’re leaving out of this recipe for disaster?

ABOUT THE AUTHOR

David Kurtz is Managing Editor and Washington Bureau Chief of Talking Points Memo where he oversees the news operations of TPM and its sister sites.
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