Report Warns Austerity Will Block Recovery, Risk Recession

For Immediate Release

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Alan Barber, (571) 306-2526

Report Warns Austerity Will Block Recovery, Risk Recession

Members of “Citizens’ Commission on Jobs, Deficits and America’s Economic Future” Demand Equal Media Coverage for Middle Class Economic Agenda, Growth Strategy for Deficits

WASHINGTON - A new report from the Citizens’ Commission on Jobs, Deficits and America’s Economic Future
demonstrates that the White House deficit commission proposals are
“fundamentally misguided” and take the economic debate in the dangerous
direction of austerity. The group of well-known experts and leaders of
civic organizations released their own “Report and Recommendations of the Citizens’ Commission on Jobs, Deficits and America’s Economic Future,” on Tuesday, November 30.

The report, written by Jeff Madrick, a
member of the commission and Senior Fellow at the Roosevelt Institute,
with contributions from Dean Baker of the Center for Economic and Policy
Research, Roger Hickey, Robert Borosage and Richard Eskow of the
Institute for America’s Future, Robert Kuttner of The American Prospect
and Demos, and Robert Pollin of the Political Economy Research
Institute, and additional work by other members of the commission.

The 36-page report contains a plan to
maintain investments needed to speed up economic growth and produce jobs
while lowering the federal deficit to a sustainable level in the long
term. The report and links to related materials are posted at ourfuture.org/citizenscommission.

The release of the paper coincides with the announcement
of a nationwide campaign to oppose the job-killing,
middle-class-devastating austerity measures proposed by Republicans in
Congress, President Obama's deficit commission co-chairs, and perennial
deficit hawks such as Peter G. Peterson, and some Democrats.

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