“David examines austerity and its effects on austerity and austerity austerity. Also, austerity is discussed briefly. A note on Reinhart-Rogoff: Who cares? The idea of fiscal responsibility wasn’t created in a Harvard classroom three years ago. (a) we don’t have austerity (b) two people messing up a spreadsheet doesn’t somehow negate the laws of economics. Also, we’ve actually had deficit spending/stimulus. That’s what demonstrably didn’t work. But now that’s seen as the solution once again because of a spreadsheet advocating a policy we don’t follow? It’s too insane to really think about.”

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