Obama to Greece: You know, you guys should really try growing your economy « Hot Air

Obama to Greece: You know, you guys should really try growing your economy « Hot Air: "Except that, there’s the rub: European and liberal economists seems awfully quick to blame the ‘spending cuts and tax increases demanded by creditors’ as the economy’s vanquishers and insist that “austerity is dead!,” instead of blaming — you know — the years and years of wildly unsustainable public spending policies and extravagant promises that landed Greece and others in this situation in the first place. Yes, any significant amount of economic-structural reorganization is going to mean real material hardship in the short-term, but advising more government spending to ‘create jobs’ when it’s the government’s bad habit of insanely exorbitant spending that started it all? That sounds like a punchline to some sort of tragic joke."

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