American Austerity - America’s Fiscal Crisis

American Austerity: Generously Providing Poverty to the Masses

By Global Research

There can be no denying that unprecedented numbers of people, of all ages and creeds, are increasingly frustrated by the governmental and corporate financial machinations which keep them struggling to make ends meet while effectively jeopardizing their long-term potential to secure an adequate and fair standard of living.

Obama’s announcement this week of further government cutbacks (in the middle of a job crisis, no less) puts millions of people directly under the wheels of an economic steamroller that is being driven straight across the most vulnerable sectors of society.

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http://www.globalresearch.ca/american-austerity-generously-providing-poverty-to-the-masses/5325516

America’s Fiscal Crisis: “Sequester Facts” on US Policy Manipulations You Should Know

By Kevin Zeese and Margaret Flowers

Right now, the American people are like frogs in warm sequester water. For some, inundated with all the corporate media talk about out-of-control spending, the cuts to the deficit feel good right now. But as the sequester takes hold and federal spending is pulled from the economy, those views are likely to change.

US elected officials seem to be focused primarily on making sure the other party is to blame, when in fact both are to blame, and on measuring the political fallout. In many ways, this is part of the battle to determine which arm of the corporate duopoly will have a majority in Congress after the 2014 year elections.

But for the rest of us, a large spending cutback by government in the midst of a jobs crisis and shrinking GDP is exactly the wrong policy for the economy. The US economy is likely to find itself in a recession, shedding more jobs in 2013 with an increased deficit to GDP level in part because of the sequester, but also because the federal government was already in austerity, shrinking at a very fast rate (despite what the corporate media, pundits and politicians say). Thus the road to a double-dip recession has sped up due to the sequestration. Here are some facts you should know.

In fact, Zero Hedge published a disconcerting list of twelve recent events that show the next economic collapse may almost be upon us. And, they point out that the sequester will make things worse. Less money in the economy when big business is not spending is a sure sign of economic disaster, potentially even deflation which could lead to worse than a recession.

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http://www.globalresearch.ca/americas-fiscal-crisis-sequester-facts-on-us-policy-manipulations-you-should-know/5325431