Austerity: "Wrong On All Fronts"

Paul Krugman on the failure of austerity:

"So what do we learn from the rather pathetic search for austerity success stories? We learn that the doctrine that has dominated elite economic discourse for the past three years is wrong on all fronts. Not only have we been ruled by fear of nonexistent threats, we’ve been promised rewards that haven’t arrived and never will. It’s time to put the deficit obsession aside and get back to dealing with the real problem — namely, unacceptably high unemployment."

Yet, as you will most likely see if you turn on this Sunday's talk shows, the media austerity scolds =cough=Dancin' David Gregory=cough= will still be "searching for Mr. Goodpain." Krugman lays out the case (again) for why the austerity/ deficit scolds have been wrong on just about everything.