Paul Krugman points out that the austerity measures which Republicans are pushing (and some of which have been enacted) would not only end up cutting basic services such as education and public protection, but would also slow the economic growth of the country as fewer people would have spending cash to keep the wheels moving.
Since that all seems obvious and still isn’t being listened to, my take on the situation is that the Republicans in office don’t want the economy to recover while Obama is in office.
But Paul Krugman is persistent and further points out that we have plenty of evidence for this, such as Ireland, with its 14% unemployment after conservative austerity measures. Hopefully there are enough people of goodwill to save the economy while we still have the opportunity to do so.
Found through wonkwire.