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Conservatives Will Hate This: Proof That Government Spending Cuts Hurt Economic Growth

It's the oldest battle in politics: Whether cutting government spending helps or hurts economic growth. The Financial Times has done everyone a favour by publishing a series of charts on how US government spending contributed, or detracted from, GDP growth. And the conclusion is pretty severe: ... austerity subtracted about 0.76 percentage points off the real growth rate of the economy between the middle of 2010 and the middle of 2011.
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