Note to Washington: On cutting spending when you need growth

“The austerity that is going on in Europe, America and so forth is effectively a suicide pact for our economies. “Greece does not have much scope, but the United States and Germany and a number of other countries do have considerable space for stimulating their economy, and it is absolutely essential that they do that.” --Joseph Stiglitz, economist, professor at Columbia University and former chief economist at the World Bank. Links: http://www.theglobeandmail.com/report-on-business/economy/government-stimulus-measures-too-feeble-stiglitz/article2213385/; http://en.wikipedia.org/wiki/Joseph_Stiglitz