From this Sunday's This Week on ABC, The Nation's Katrina Vanden Heuvel was the one voice of reason, pushing back against the idea that austerity and budget cuts are going to somehow solve our country's economic problems, or the notion that the debt and deficit should be our biggest concern.
VANDEN HEUVEL: I agree with Paul Gigot. Americans voted decisively for fair share taxes on the richest, for protecting Social Security and Medicare, but also for growth and investment. You cannot get growth and investment with the spending cuts as they are laid out in the grand bargain.
STEPHANOPOULOS: And certainly not the sequester.
VANDEN HEUVEL: Certainly not the sequester. So I think part of the problem we're having, George, is the fundamental assumptions overriding this entire discussion. Senator Murray said that we have a big debt and deficit problem -- no, we don't. We have a big public investment and jobs problem.
VANDEN HEUVEL: Last point. We're not Greece. Austerity, if you believe in evidence-based politics and economics, you look at what's going on in Europe, and austerity, which we may have American-style in this country if we proceed the way we are doing, has led to economic pain, has led to killing growth. Killing growth.
VANDEN HEUVEL: And debt and deficit.
Amen to that sister. This needs to be repeated as often as possible whenever we hear the fearmongering about falling off of the "fiscal cliff" and the real danger to our economy that austerity measures pose. As she pointed out, the deficit can be taken care of later, but we've got to get the unemployment numbers down first and Americans back to work.
Full transcript of the segment above below the fold.