Krugman Uses The Success Of Austerity To Argue Against It

Paul Krugman argues that the big drop in the U.S. budget deficit shows that previous calls for austerity measures were unwarranted. What he fails to mention is that a key reason for this drop was the austerity measures implemented last year, you know the spending cuts and tax increases that were refered to as “the fiscal cliff”. In other words, Krugman uses the success of these policies in bringing down the deficit to argue that they weren’t needed.

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