For years, Rethuglican politicians and economists, joined by their courtiers in the Beltway media, have pushed austerity policies that only served to retard growth and spending aimed at stimulating the economy (infrastructure for example). Despite evidence to the contrary (see European recession), and the voices of experts like Nobel Prize winner Paul Krugman, Rethuglicans and too many spineless Dems have put deficit reduction / spending cuts as a priority, when stimulus was called for (the modest 2009 stimulus stopped the recession in its tracks, and began to turn the economy around -- albeit slowly).
The Center for American Progress has developed a case for walking away from the austerity-pushers and a "grand bargain" on the budget that would further slow the economy by cutting spending just as the economy is starting to recover. Will Dems finally focus on the case and push back on the austerity-pushers? As the CAP is representative of establishment Dems, we're hopeful-- but not optimistic.
