Forget Spending Cuts, the U.S. Economy Really Needs a $2 Trillion Stimulus | Economic Policy Institute
"The United States does face an unsustainable long-term fiscal trajectory driven by rising health-care costs and inadequate revenue; deficit reduction will eventually be needed, but timing is everything. Today, deficit reduction is particularly damaging per dollar — aptly demonstrated by the United Kingdom — and premature deficit reduction could keep the economy mired in its current state. If fiscal policy is instead used to push the economy fully out of this slump, then subsequent fiscal retrenchment will be much less damaging per dollar than today’s austerity."
