U.S. economy caught in 'debt and austerity trap'

Commentary: Ethics offer free fix for financial mess

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There’s very little real news this week, with markets lurching to no account, and trading so thin that the landing of a snowflake avalanched 300 points of Dow. Uphill.

The issue at hand: the debt and austerity trap. We must stop borrowing, but to stop we must cut spending or raise revenue, or both. If we do that, and our economy — or the ones overseas — slow down, then we will have less tax revenue and more need, or wishes, for spending.