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?

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