Tag Archives: austerity

Our Incredible Shrinking Government

Source: Paul Krugman Most analysts are, rightly, shrugging off the surprise report of an actual decline in 4th quarter GDP. It will probably be revised away, and in any case it’s the result of one-off factors: a drop in inventories … Continue reading

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Public-sector austerity in one graph

Source: Ezra Klein On Friday, I ran some numberson public-sector employment: Since Obama was elected, the public sector has lost about 600,000 jobs. If you put those jobs back, the unemployment rate would be 7.8 percent. But what if we … Continue reading

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The Austerity Agenda

Source: Paul Krugman / NYTimes “The boom, not the slump, is the right time for austerity.” So declared John Maynard Keynes 75 years ago, and he was right. Even if you have a long-run deficit problem — and who doesn’t? … Continue reading

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