Spending Cuts Signal Austere Future for Domestic Programs - Yahoo! Finance

Spending Cuts Signal Austere Future for Domestic Programs - Yahoo! Finance

A little austerity probably won't hurt, but we can't go the way of Spain, Italy, and the UK, where austerity is so massive that it is killng everyone but the wealthy financially. However, if the House of Representatives, controlled by the Republicans, insists on greater austerity, all bets are off and we could have a worldwide recession. 

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