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Most US liberals and progressives are, more or less, economically illiterate and haven't gotten past Austrian or Chicago school economics 101. They share the same basic assumptions and theoretic constructs of  austerity economics, even if they would like to temper it's extremes by saving as much of the New Deal and Great Society as they can.
Stephanie Kelton calls them deficit doves, as opposed to deficit hawks. Both believe deficits should be reduced, it's just that the liberal deficit doves are willing to entertain short-term stimulus policies.

I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS
by Migeru (migeru at eurotrib dot com) on Sat Jan 12th, 2013 at 10:24:43 AM EST
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