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Austerity Won't Kick-Start Growth: Economics Speaker Robert Kuttner
Economics | October 31, 2012

Austerity Won't Kick-Start Growth: Economics Speaker Robert Kuttner

"Why would you vote for Romney based on the economy?" economics speaker Robert Kuttner asks in a column in the Huffington Post. The answer? "Because he's not Obama. Not enough voters, male or female, look at Romney's blarney in any detail; they just know that Obama hasn't solved a prolonged slump," he writes. After a major recession, the American economy has only bounced back by 7.2 per cent in the past four years, Kuttner explains in the article. This, he argues, has contributed to the presidential race being essentially tied. When Romney openly declares that the economy is still weak, voters are willing to side with him because he is preaching to the choir—and to their first hand experiences.

As the author of the highly-acclaimed Obama's Challenge, and A Presidency in Peril, Kuttner has become well-versed in the President's political agenda. His twenty-year background as a writer for BusinessWeek and as the former chief investigator for the US Senate Banking Committee gives him a thorough understanding of the country's financial issues. Obama's deficit reduction plan would, as Kuttner argues, "slow growth, needlessly sacrifice Social Security and Medicare, and make the next four years much like the last four years." Obama is proposing a policy of austerity, where he will lower the deficit by lowering spending through the reduction of benefits and public services. Something that Kuttner, and many others, believe will tackle one problem while exacerbating another. "If Obama strikes such a deal, it guarantees that a sluggish economy will continue...what a waste, what a pity," he writes.

Kuttner's ability to translate complex political issues into plain English makes both his columns and his speeches informative as well as easy to follow. His hard-hitting assessment of politics and the economy are well-founded and eye-opening—providing a unique blend of critique and suggestion to help us steer through the murky political waters ahead.

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