While we irresponsibly ran up the deficit, Europe tightened her belt.
And it worked precisely as predicted... by its critics.
Reducing the deficit is, in 2012, almost as stupid an idea as invading Iraq was in 2003.
But all Republicans and most Democrats and Independents favor it. (Kind of like Iraq, come to think of it.)
Cutting the deficit in tough times is even dumber than supply-side economics.
But WE support it. This is not something that can be wished away simply because the Republicans are even worse.
WE support this nonsense.
It's like two doctors looking at a patient who doesn't run fast enough. The Republicans say, "We should cut off his legs to make him run faster." But we say, "No, we need a balanced approach. We should only cut off one leg."
Is it politically necessary? Sure... whatever. The American people are really to blame, as they generally are.
But the fact remains, We are currently negotiating with the Republicans about how much to reduce GDP in an ongoing growth crisis.
Oh look... another chart. *yawn*
Yeah, sure... America has weathered the storm better than most. But just think how much even better we would have done if we had also cut the deficit!