Austerity programs alone don't work after a big economic collapse, like in 2008. As America found out after the Great Depression, government needs to stimulate the economy in bad times and run balanced budgets in good times. Just when the U.S. was poised to pay off all its debt, George W. gets into office, enacts a huge cut, and initiates two expensive wars without a tax hike. This is the definition of fiscal insanity.
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