Europe rejects austerity, will U.S.?

politico.com — In the Politico, Camaign for America's Future's Robert Borsage writes the rejection of austerity is "a recipe for recession — or worse. We’re heading into a bitter, negative and expensive presidential race. Yet the elite consensus is focused not on the election but on the lame-duck session that comes after the votes are tallied. In those few weeks, the debt ceiling has to be raised, even as the automatic sequester from the last debt-limit showdown is set to force a 10 percent cut from the military, as well as domestic discretionary spending. The Bush tax cuts, payroll tax cut and extended unemployment insurance all are due to expire."