Friday
Jan042013
Fiscal cliff agreement puts U.S. on austerity path akin to Europe's
Friday, January 4, 2013 at 01:54PM
WAPO
For years now, economists like Paul Krugman have been criticizing countries in Europe for engaging in too much austerity during the downturn — that is, enacting tax increases and spending cuts while their economies were still weak.
But after this week’s fiscal cliff deal, the United States is now on pace to engage in about as much fiscal consolidation in 2013 as many European nations have been doing in recent years — and more than countries like Britain and Spain.
Reader Comments