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January 4, 2011

Government Must Keep Spending to Help Economy

Joseph Stiglitz, Slate


AP Photo

Economically speaking, 2010 was a nightmare on both sides of the Atlantic. The crises in Ireland and Greece called into question the euro's viability and raised the prospect of a debt default. In Europe and the United States, unemployment remained stubbornly high, at around 10 percent. Even though 10 percent of U.S. households with mortgages had already lost their homes, the pace of foreclosures appeared to be increasing—or would have, were not it not for legal snafus that raised doubts about America's vaunted "rule of law."

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Related Topics: budget, economy, United States, Europe

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