That’s the question raised in the Telegraph this afternoon.
The US has seen precious little return from its $787 bln except to keep the bubble in municipal employment and perks fully inflated.
Austerity is inevitable, whether the government wants to admit it or not. Come this November in the US, there will be a national backlash very much like the one seen earlier this year in Massachusetts. I guarantee it. The populous is much less enamored of Keynesian stimulus than the pols in Washington and is set to speak loud and clear, by throwing scores of the bums out.
We’ll all be Greeks soon. Best get on with it…