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Tightening the Belt

Posted on March 7, 2008 by Chelsea Wieber
Topics: Governance

For the first time in more than five years, the average household income is declining in the U.S., reports the Financial Times.

Joseph Stiglitz, John Edwards and anti-war group MoveOn.org all blame the Iraq War for triggering a U.S. recession. While the connection is politically attractive to some, President Bush — and even some of his critics — argue that this simply isn't true.

When President Bush said last week that "spending in the war might help with jobs" and that "this economy is down because we built too many houses and the economy’s adjusting," even well-known Bush-basher Paul Krugman had to concede the point. In a blog post, he wrote, "Hate to say this, but he’s right."

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Keywords: United States, recession, global economic crisis

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