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View Diary: 350 economists sign letter advocating jobs and growth rather than austerity and budget cuts (86 comments)

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  •  Good call HoundDog (12+ / 0-)

    Myself, I really hate labels in this day and age; it's gotten to the point where I know longer know what "left-leaning" or "liberal" means.

    I do know what Keynesian economics vs. pixie dust means.  The economists who signed this letter are essentially arguing that a tried-and-proven Keynesian approach to the recession is the way out, not this so-called "austerity" approach that seems to be failing everywhere.

    The debt is a long term problem and needs a long term solution.  It can't be solved in the next month.  And until we get a recovery well under way, it's not going to be solved at all.  And recovery is only going to happen when demand picks up, and demand won't pick up until the middle class is on its way to getting healthy again.

    The most violent element in society is ignorance.

    by Mr MadAsHell on Thu Nov 15, 2012 at 10:43:56 AM PST

    [ Parent ]

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