Americasdemocrats.org

A Bank of England advisor sneers at economic austerity … and a historian invokes Donald Duck to explain how Americans got to love the income tax.Is austerity the way to go to get us out of the fiscal crisis? One of the world’s leading economists says no, that austerity is a “lose-lose” proposition right now. And with the deadline just one month away, a historian tells us that the income tax was an idea supported by the “little people” – and Donald Duck. And Bill Press talks with a Catholic journalist, and priest, who says the odds are against an American being elected pope. Adam Posen Adam Posen is one of the world’s leading economists, and until recently the only American to serve on the British equivalent of the U.S. Federal Reserve bank. He tells us why austerity is not the answer to our fiscal woes and that deficit reduction should wait until economic times are better.http://www.iie.com/staff/author_bio.cfm?author_id=9 Molly MIchelmore How did Irving Berlin and Donald Duck figure in the history of the in