Indebted America is in danger of turning into destitute Greece, or so congressional Republicans and conservative commentators have been warning us for years now. For many reasons, this is an absurd comparison – but it may not always be quite so ridiculous if Washington’s advocates of austerity get their way.
The Republicans actually want to impose Greek-style budget-slashing on the United States. And the federal budget sequestration scheduled to take effect next week could represent the first serious step here toward the kind of fiscal policies that have proved so ruinous not only in Greece — raising unemployment, destroying hope, and encouraging extremism — but across Europe.
Nearly every day, House Speaker John Boehner or Senate Minority Leader Mitch McConnell – or Senator Rand Paul or Rep. Paul Ryan, or almost any other prominent Republican – insists that the only way to improve the economic prospects of the American people…
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