9 Charts That Show Why The U.S. Doesn't Need Austerity

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"It’s time to hit the reset button on the entire fiscal debate."

That's according Michael Linden, the Managing Director for Economic Policy at the liberal Center for American Progress, in his new report calling for an end to fiscal austerity in the United States.

Linden has, until now, been part of Washington's pro-deficit reduction consensus. Just six months ago, CAP put out a report that opened like this: "There are very few things everyone in Washington can agree on these days. But the one notion that will get heads nodding across the political spectrum is that today’s fiscal policies simply are not sustainable." Linden was one of its co-authors.

He's still arguing for deficit reduction in the medium term, but now he's emphasizing that it can come later — now, the key objective is to make sure the government doesn't choke off the recovery.

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