Huge cuts could imperil recovery, economists say
Huge cuts could imperil recovery, economists say
- August 3, 2011
- Gary Richardson, economics professor, is quoted in the Boston Globe August 3, 2011
From the Boston Globe:
Gary Richardson, an economist at the University of California at Irvine and a scholar
of the era, said unemployment rates soared to 19 percent in the year after the Roosevelt
administration raised taxes and cut government spending and contracts as a way to
solve the country's long-term deficit problem. "Sadly in the last three days we have
repeated the biggest policy mistake of the Roosevelt administration...cutting government
expenditures in the midst of prolonged high unemployment," he said. "It's certainly
not going to help the recovery."
For the full story, please visit http://www.boston.com/business/articles/2011/08/03/huge_cuts_could_imper....
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