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Whatever way you look at it, austerity is not the answer
Savage cutbacks are the wrong answer to a misframed question, writes MICHAEL MEACHER

AUSTERITY is the wrong policy on every count.

Overspending was not the cause of the financial crash, so austerity is not the right policy for dealing with what did cause it — which was the bankers’ arrogance and irresponsibility triggering the global recession.

When the massive bank bailouts led to huge budget deficits, austerity was the wrong policy to cut the deficits because prolonged contraction of the economy makes deficit reduction far harder to achieve than systematic growth and expansion.

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