by Steve Benen
The first chart shows “private-sector job creation in the latter half of 2010, when stimulus money was still being spent, and when Democrats enjoyed the congressional majority.”
The second chart shows “private-sector job creation so far in 2011, after stimulus spending largely ended, Republicans took control of the U.S. House and most of the nation’s gubernatorial offices, and the national discourse pivoted from jobs to the deficit and debt.”
by Robert Reich
Not only is the United States slouching toward a double dip, but so is Europe. New data out today show even Europe’s strongest core economies – Germany, France, and the Netherlands – slowing to a crawl.
We’re on the cusp of a global recession.
Policy makers be warned: Austerity is the wrong medicine.
vruz: austerity is saving money in lifesavers when your boat is sinking and passengers are floating adrift.