November 4th, 2010

seattle

Любимый журнал

Limited War

How the age of austerity will remake American politics.

Thomas B. Edsall

But that broad, unintentional compromise is no longer sustainable. We’re entering a period of austerity, far different from anything we’ve ever seen before. The predictions, especially the ones formulated by sober, nonpartisan analysts, are eye-popping. Earlier this year, a Congressional Budget Office report estimated that the debt as a percentage of GDP would approximately triple by 2035. Put another way, debt will come to exceed 185 percent of GDP. That’s far worse than Greece’s current perilous condition, a crisis that has been portrayed as the reductio ad absurdum of fiscal indiscipline.

http://www.tnr.com/article/economy/magazine/78564/austerity-economic-crisis-democrats-tea-party