Stimulus failed, austerity next for US?

Stimulus failed, austerity next for US?


As many Americans continue to struggle with the economy worsening, is the United States' economy headed towards austerity measures? President Obama told Americans that we need to make broad sacrifice in order to correct the long term fiscal course. Joe Weisenthal says the most likely scenario is some kind of long term sacrifice, such as reducing the cost of Social Security or Medicare.

Austerity coming to America

Austerity coming to America


The 2009 stimulus plan was supposed to get the US economy back on track, however almost one year after Congress passed the Recovery Act the US is still struggling to get its finances back on track. While Wall Street is back to normal, everyday Americans are seeing high numbers of unemployment and home foreclosures. As the stimulus fails, could the US see European style austerity measures?