Editorials: Austerity bites ...
Published: April 27, 2012 11:32AM
Updated: April 27, 2012 11:32AM
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In this video image from the Parliamentary Recording Unit, Britain's Prime Minister David Cameron speaks in the House of Commons, London, Monday Dec. 12, 2011. David Cameron was the only leader among the 27 members of the European Union to refuse to support a plan last week which would see nations submit their budgets for central review and limit the deficits they can run. (AP Photo) NO ARCHIVE

- A bad example: Evidence against austerity - Salt Lake Tribune Editorial

One of the favorite lines Republican candidates for president have used in attacking President Obama is that it is the incumbent’s dark purpose to somehow turn us into Europe.
Recent economic data, however, suggest that it is Republican fiscal policy that would set us on a path to emulate the economic stagnation of Great Britain and the nations of the euro zone.
Preliminary numbers released Wednesday from Whitehall show that, for the first time since the 1970s, Britain is suffering through a double-dip recession. The figures strongly suggest that the British government’s embrace of fiscal austerity as a cure for its economic woes has not worked. ...
...the graphs drawn by economy watchers show a clear correlation — if not causation — between the installation of Prime Minister David Cameron’s austerity programs, which slashed public sector spending in an attempt to completely erase that government’s deficit in just seven years, and the second decline in the nation’s economic growth.

- The Big Wrong - Paul Krugman, The New York Times
... And now the results are in: Keynesians have been completely right, Austerians utterly wrong — at vast human cost. ...

- Europe's phony growth debate - Wall Street Journal Editorial
The austerity vs. spending fight ignores essential reforms. ...

- The Galling Misuse Of The German Example - Alec MacGillis, The New Republic
... No, the Germans did not implement a giant stimulus package, equivalent to our own $787 billion American Recovery and Reinvestment Act. That’s because they had in place a massive Keynesian program of a different sort, one that was, it’s now clear, far more effective in providing counter-cyclical stimulus than anything we or other Western countries tried. ...

- The Swedish model for economic recovery - Robert J. Samuelson, The Washington Post
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Sweden suffered its own economic crisis in 1992 — and its response will please and discomfort American liberals and conservatives alike. ...