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View Diary: Austerity doesn't work: New IMF report details the damage (167 comments)

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  •  Wasn't the IMF pushing austerity & cuts to SS? (18+ / 0-)

    That was their message a couple of years ago.  From  WaPo in July 2010

    IMF issues broad call for U.S. financial prudence

     

    The United States recently opened itself to the most intense scrutiny yet by the International Monetary Fund, and on Thursday was offered a bitter pill when the agency criticized some well-defended aspects of American culture -- cheap fuel, subsidized housing, and a government retirement check.

    In a broad call for U.S. financial prudence, the agency also said the Obama administration was overestimating U.S. economic growth and needed to trim government deficits by hundreds of billions of additional dollars if its announced budget targets are to be met.

    They're the ones who got the ball rolling on all this austerity BS we're dealing with now.

    And now, surprise, surprise, they've realized what Krugman and everyone else told them back then - austerity makes things worse instead of better.

    So why are none of our political leaders heeding their most recent mea culpa?

    Democratic Leaders must be very clear they stand with the working class of our country. Democrats must hold the line in demanding that deficit reduction is done fairly -- not on the backs of the elderly, the sick, children and the poor.

    by Betty Pinson on Fri Jan 04, 2013 at 08:50:35 AM PST

    [ Parent ]

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