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http://www.alternet.org/7-disturbing-charts-show-impact-americas-warped-economic-priorities?akid=11952.227380.qio0n_&rd=1&src=newsletter1006366&t=15
Just the other day, 50,000 people marched against austerity in London. Sam Fairburn, the group's national secretary, said: "Cuts are killing people and destroying cherished public services which have served generations." This should stand in stark contrast to America, which has had no marches against austerity of any significant size, but where austerity has been the rule for longer and has been much more brutal. You would never know it from watching the news, but the conservative austerity policies are hitting crushing levels...
The costs of this austerity could last for decades.
While many academic researchers thought of the costs of recessions as a rounding error a generation ago, the emerging view is that failing to lift an economy out of recession could permanently reduce its size. In the United States, this could reduce GDP by something on the order of $1 trillion each year.
Just the other day, 50,000 people marched against austerity in London. Sam Fairburn, the group's national secretary, said: "Cuts are killing people and destroying cherished public services which have served generations." This should stand in stark contrast to America, which has had no marches against austerity of any significant size, but where austerity has been the rule for longer and has been much more brutal. You would never know it from watching the news, but the conservative austerity policies are hitting crushing levels...
The costs of this austerity could last for decades.
While many academic researchers thought of the costs of recessions as a rounding error a generation ago, the emerging view is that failing to lift an economy out of recession could permanently reduce its size. In the United States, this could reduce GDP by something on the order of $1 trillion each year.
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