The Huffington Post: Austerity Has Cost The U.S. Economy 2.2 Million Jobs: Study

May 6, 2013

There are more than 2 million unemployed Americans who might have jobs today if not for austerity. That’s the conclusion of a new study by Michael Greenstone and Adam Looney at the Brookings Institution. In the 46 months since the Great Recession ended, state, local and federal governments have cut about 500,000 jobs. In contrast, in every other U.S. recession since 1970, the government hired approximately 1.7 million people, on average. That means the U.S. is an estimated 2.2 million jobs in the hole.