…the right to set the tone of the dialogue by letting them label the current situation. We aren’t facing a “fiscal cliff”, he notes, but rather an “austerity bomb”. [The…

…it a fiscal cliff or merely a bump in the road; We face an ‘austerity crisis’ not a ‘fiscal cliff. A. The Explanation. At least the national media and a…

…is one of the prime rationales for government austerity. “Before Keynes,” explained Alan Blinder and Robert Solow in a 1973 paper: …it was commonplace that government spending and taxation were…

…said about the private sectors of the economy, and why they have not offset at least part of the fiscal “austerity.” Consumption spending is linked to income, so there is…

…insisting that their governments lower the value of their currencies to increase exports to the U.S. But the U.S. Treasury did not label either country a currency manipulator in its…