Economy: Economic News, Policy & Analysis - The Washington Post: What austerity looks like around the world

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What austerity looks like around the world May 22nd 2012, 15:40 We've noted before that most countries in Europe are engaged in "austerity" — defined as some mix of spending cuts and tax increases. But what's the actual mix? Here's a helpful graph from the OECD's latest Economic Outlook. It shows the projected change in the "primary balance" of the world's wealthiest countries between 2011 and 2013. (This is the budget after accounting for the effects of economic growth — after all, if there's a recession and tax receipts go down as a result, we don't want to count that as a "tax cut.") Read full article >>

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