That’s the great thing about Europe: It’s filled with cautionary tales for America.Up until recently, Greece and Ireland were held up as examples of what the US could become if spending and debt weren’t kept under control
But now we have a new one: The UK, where growth just came in weak, and where the government has been very aggressive about planning austerity. The warning: If the US government retrenches too quickly, then then the US could double-dip faster than we expect.
So, pick your poison: Which cautionary tale shall we apply to America>
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