Posts tagged ‘austerity’

May 26, 2012

In the Event of Austerity…”BREAK GLASS”

via #ThinkProgress (@nytimes)

May 8, 2012

Daily Scoop Xtra: Ryan Budget May Cut Economic Data

Starting in the early 1990s, the U.S. Census Bureau asked Congress for extra funding each year so it could better analyze the services sector, which was quickly replacing industrial activity as the biggest driver of the U.S. economy. In 2003 the bureau requested more funding to survey financial, real estate, and other companies on a quarterly basis, rather than wait to take their pulse with its Economic Census, which gathers data on business every five years.

Every year, Census asked for the extra funds; every year, Congress denied them the money, leaving the Census Bureau largely blind to the health of a sector that made up more than half the total economy.

Finally, in early 2009, after the real estate-fueled financial crisis, Congress gave Census what it had been asking for—an extra $8.1 million. In the view of many, it was too late.

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May 8, 2012

The Daily Scoop: Government’s 1st Monthly Budget Surplus in 3 Years

As the budget battles in Washington begin anew, it seems the importance of tax revenue for repairing the national debt problems has been quite clearly illustrated. It’s also worth postulating, with the regaining of virtually all the jobs lost under the Obama Administration does it not stand to reason that putting people back to work where they contribute to the tax base is the best way to reduce the debt spending? 

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May 7, 2012

French Reject Austerity; Are US Republicans Listening?

This past weekend French voters denied their incumbent president Nicolas Sarkozy reelection  in a resounding rejection of austerity policies which have kept European economic recovery out of reach. In arrant disavowal of this message and mounting real world evidence to the contrary, Republicans in the U.S. continue their own pursuit of spending cuts policy.

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April 24, 2012

Europe’s Woes Prove GOP Wrong

Anyone frustrated with the drawn out economic recovery here in the US should cast a gaze across the Atlantic for a view of how it could have been. In the European Union we have a unique opportunity to catch a glimpse of where this country would be had we chosen the path of severe spending cuts rather than a road stabilized by economic stimulus. 

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