It’s Official: Austerity Economics Doesn’t Work

[underpants]

1. + Let’s go over that one more time.

Let’s go over that one more time. Having adopted the policies of Keynes in response to a calamitous recession, the United States has grown more than twice as fast during the past three years as Britain, which adopted the economics of Hoover (and Paul Ryan). Meanwhile, the gaping hole in the two countries’ budgets has declined at roughly the same rate, and next year the U.S. will be in better fiscal shape than its old ally.

Read more: http://www.newyorker.com/online/blogs/comment/2012/12/austerity-economics-doesnt-work.html#ixzz2ETp8wO6v