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APR 24, 2013 - Business Insider

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Stephen Colbert Makes The Austerity Movement A Total Laughingstock

A big theme this past week has been the decline of the austerity movement. Austerity has been discredited as a path to economic prosperity for awhile. But last week, a paper by a graduate student (UMass Amherst's Thomas Herndon) debunked the famous Reinhart & Rogoff study, which had claimed that growth slows precipitously when a country's debt rises above 90% of GDP. Since then, in Europe, we've seen a backlash against austerity from various names, whether it's the International Monetary Federation criticizing the UK, fund manager Bill Gross critizing the UK, or European Commission ... Read More

Tags: Stephen Colbert Makes The Austerity Movement A Total Laughingstock,  Paul Ryan Latest News