AUSTERITY 101: The Three Reasons Republican Deficit Hawks Are Wrong

Congress is heading into another big brawl over the federal budget deficit, the national debt, and the debt ceiling. Republicans are already talking about holding Social Security and Medicare “hostage” during negotiations—hell-bent on getting cuts in exchange for a debt limit hike. Days ago, U.S. Treasury Secretary Jacob Lew asked whether our nation would “muster the political will to avoid the self-inflicted wounds that come from a political stalemate.”
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