MB Civic

from his blog ..

when the rating agencies upgraded the UK outlook, the Cameron government hailed this as proof that austerity was working; when they downgraded it due to poor economic performance, the Cameron government declared that this showed the need for even more austerity .. US austerity — which mainly takes the form of layoffs at the state and local level — is largely concentrated in states where Republicans took control in 2010, plus Texas. So that’s why our recovery, though better than Britain’s, isn’t stronger

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