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To the Point

What's Behind the Austerity Backlash?

To the Point

KCRW

News

4.4583 Ratings

🗓️ 1 May 2013

⏱️ 51 minutes

🧾️ Download transcript

Summary

Unemployment and slow growth in Europe are bringing an end to the "austerity" era of spending cuts and increased taxes. Was austerity a dangerous idea in the first place?

Transcript

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0:00.0

From KCRW in Santa Monica and PRI, Public Radio International, this is To the Point.

0:07.8

The backlash against austerity.

0:14.0

Hello again, I'm Marvin Olney, and this is To the Poet from Public Radio International.

0:17.9

A daily look at the issues Americans care about most.

0:20.5

All across Europe

0:21.2

today, angry May Day marchers protested the consequences of massive spending cuts and increased taxes.

0:27.1

Unemployment is setting records in Eurozone countries, so now the focus is shifting from reducing

0:32.3

debt to growing troubled economies. Some economists are saying, we told you so, bolstered, believe it or not, by discovery of an

0:39.9

Excel spreadsheet error in an influential research paper.

0:43.9

What will the austerity backlash mean for the sequester in this country?

0:47.8

Are politicians catching up with new ideas of what works and what doesn't?

0:51.9

On reporter's notebook later on gay rights and immigration reform.

0:55.7

First, here's the news.

1:01.3

Listen to KCRW's 24-hour all-news channel.

1:05.0

Stream BBC World Service, NPR and KCRW programs.

1:09.6

Continuous coverage and accessible via our smartphone app or online at kCRW.

1:19.2

Support for To The Point comes from the members of KCRW and from the Public Radio International Program Fund.

1:26.2

Hello again, Mormon-A-Lany back with To The Point. Unemployment and slow growth in Europe are bringing an end to the austerity era of spending cuts and increased taxes. Was austerity a dangerous idea in the first place? Will new ideas about economic reality make a difference to politicians in Washington? On reporter's notebook, provisions for same-sex relationships could scuttle immigration reform.

1:47.4

We'll hear about pressures on Democrats and Republicans.

1:50.6

First, this news update.

1:51.8

Police emphasize there is no threat to public safety, but three new suspects have been arrested in the Boston Marathon bombing.

1:58.3

The FBI is holding them, and they are said to have connections to

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