Austerity lovers of the world take note: Cutting government spending hurts the economy and it’s not just the Paul Krugmans of the world that say so.
The American Enterprise Institute, a conservative-leaning think tank, has some data out indicating that cutting government spending may be off-setting private sector growth. That’s notable, especially when coming from an organization with the motto “Freedom. Opportunity. Enterprise.”
Sorry about the legend covering up the years, you’ll just have to count forwards or backwards from what is shown. But, the take away is this. Clearly the drastic cuts in our spending is harming the economy in the imaginary would of many people. I haven’t looked for what the AEI was trying to say, but it’s probably warning about the looming cuts to come if congress doesn’t act. Which, most of us agree, will be devastating if allowed to go through. Thanks for insisting on these you political twits. There isn’t now nor has there been any austerity.