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By iamjoe (anonymous) | Posted April 12, 2012 at 23:53:48 in reply to Comment 75858
"First off, the only time that austerity programs actually led to a meaningful drop in debts/deficits was in the 90s under liberal politicians like Clinton and Chretien."
Right. An exception doesn't prove the rule. Also, let's not bother to figure out why these became exceptions. Let's just sweep that under the rug. What about America 1921? Or the German miracle? More exceptions, I suppose.
I have a crazy notion: that the soviet philosophy of economics is wrong, and economic prosperity doesn't come from the government's direct management of the economy and wealth.
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