Ha-Joon Chang: It\’s the way he tells \’em

The victory of the Republican anti-government ideology over a weakened Barack Obama has locked the US into the prison of fiscal rectitude.
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The budget deficit of the zone is only about 6% of its GDP, as against the 10-11% of the US and Britain.

A budget deficit of 10-11% of GDP is being locked into the prison of fiscal rectitude now, is it?

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