Why is recovery taking so long—and who’s to blame?

We are enduring one of the slowest economic recoveries in recent history, and the pace can be entirely explained by the fiscal austerity imposed by Republican members of Congress and also legislators and governors at the state level. EPI’s Josh Bivens examines the reasons beyond our slow economic recovery (one …

From the annals of state austerity budgets…

To the Editor: Thank you for your editorial about Illinois and Kansas as examples of states where policy makers do more harm than good (“Sorry Tales From Two Statehouses,” April 25). Illinois’ record 10-month budget impasse is eroding much of its educational and social service systems. According to a poll …

When universities go bankrupt…

LSU and many other public colleges in Louisiana might be forced to file for financial exigency, essentially academic bankruptcy, if state higher education funding doesn’t soon take a turn for the better. Louisiana’s flagship university began putting together the paperwork for declaring financial exigency this week when the Legislature appeared …

Greek voters reject austerity

The Syriza party wins a major victory in Greece, forming an alliance with right-wing opponents to austerity (or, more specifically, to following the orders of Germany and the EU). I wish I had time to read much more about what’s happening in Europe, so I’ll just have to save it …

IMF critiqued internally for austerity response

BY ANNA YUKHANANOVWASHINGTON Tue Nov 4, 2014 Reuters – The International Monetary Fund ignored its own research and pushed too early for richer countries to trim budgets after the global financial crisis, the IMFs internal auditor said on Tuesday. The Washington-based multilateral lender, concerned about high debt levels and large …

“The Social Geographies of Recession and Austerity”

I just stumbled on this great list of resources from early this year, on a blog by Alison Stenning: Some really great blogs have emerged over the past few years as people have tried to document their own, and others’, struggles with austerity.  There’s an article about some of these blogs here. These are …

Suburban austerity

Five decades after President Lyndon B. Johnson declared a war on poverty, the nation’s poor are more likely to be found in suburbs like this one than in cities or rural areas, and poverty in suburbs is rising faster than in any other setting in the country. By 2011, there …

Woops!

The New York Times gets transcripts of conversations between the economists responsible for guiding the U.S. economy past the financial crisis, and failing. The hundreds of pages of transcripts, based on recordings made at the time, reveal the ignorance of Fed officials about economic conditions during the climactic months of …

How Austerity Kills

Over a year ago I saved an article that caught my eye – Businessweek, of all sources, reporting on a study connecting austerity and a spike in HIV in Greece: HIV infections among drug users in Greece jumped more than 20-fold in fewer than two years, fueled by a lack …