Tuesday, March 5, 2013
This piece by Century Foundation Fellow Andrew Fieldhouse argues for more targeted stimulus spending instead of economic austerity.
More than five years after the start of the Great Recession in December 2007, the U.S. economy is still mired in a depressed state of output, and economic growth has decelerated below rates needed to bring us out of this slump. But our current macroeconomic policy — driven entirely by a contractionary fiscal approach — is poised to further slow near-term growth and delay recovery...