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Politics : Politics for Pros- moderated

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To: Bearcatbob who wrote (609674)	9/30/2016 9:35:52 PM
From: frankw1900	Read Replies (2) of 793966

Who is broke? The US government can borrow out to 30 years at effectively 0%. Austerity has no credibility as economic policy. It has ruined economies of Southern Europe. It would have ruined France's except she refused to do austerity. Situation for UK and US would be much worse cuz they only did austerity lite. In hard times everybody is saving/paying down debt and causing less economic activity - introduce austerity and economic shrinkage is worsened and folk try harder to save/pay down debt and the spiral to depression accelerates. Austerity since 2008 crash is irrational. My biggest problem with Trump is that I see nothing in him that recognizes we are broke. That said, I recognize anyone saying we are broke and need austerity is not going to win anything.

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