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Idea of the Day: How Fiscal Austerity Is Hurting America’s Long-Term Economic Prospects

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Since the 2010 midterm elections, a new wave of politicians in Washington has steered the fiscal side of economic policymaking in the wrong direction. They moved away from policies such as the 2009 American Recovery and Reinvestment Act and countless smaller policies that stopped the Great Recession and that began paving a path toward a jobs- and investment-led recovery.

Instead, for the past two and a half years, we’ve been steered toward a path of spending cuts and fiscal contraction. That path is costing America billions of dollars and millions of jobs that have great economic potential.

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This is part of a regular column: Idea of the Day

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