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Discussion: (4 comments)

  1. If “austerity” means increasing government spending, then yes, the U.S. is probably No. 1.

    Unfortunately financial forecasts do not growth make.

  2. anonymous

    Economic growth is due to economic freedom. Until Europeans can start businesses freely, hire and fire workers freely, compete in the marketplace freely, and reap the rewards of their own efforts, they will not have economic growth. All the talk about austerity or spending is just blather. Probably they believe their own blather which is the root of their problems.

  3. anonymous

    And the US would be doing a lot better yet without obamacare, Dodd–Frank and Sarbanes–Oxley. Washington should repeal legislation in reverse chronological order until the economy picks up.

  4. juandos

    As Capital Economics notes, the combination of US tax hikes and spending cuts means that over the next two years the federal budget deficit is expected to fall by 3.6 percentage points as a share of GDP“…

    Yeah, it’ll be just like Willy Wonka’s chocolate factory…

    Chris Cox & Bill Archer November 26, 2012 WSJ: Why $16 Trillion Only Hints at the True U.S. Debt

    The actual liabilities of the federal government—including Social Security, Medicare, and federal employees’ future retirement benefits—already exceed $86.8 trillion, or 550% of GDP…

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