Quote of the Day

"[To continue to impose austerity policies] when the private sector is still deleveraging and interest rates are at the zero lower bound is just awesomely destructive."—Paul Krugman, looking at a chart showing "unprecedented" austerity.

[T]here was a brief, modest spurt in spending associated with the Obama stimulus — but it has long since been outweighed and swamped by a collapse in spending without precedent in the past half century. Taking it further back is tricky given data non-comparability, but as far as I can tell the recent austerity binge was bigger than the demobilization after the Korean War; you really have to go back to post-World-War-II demobilization to get anything similar.

We the People need help. Our government refuses to give it.