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Pete Peterson Exposed: The "Grand Bargain" Hoax

The "Grand Bargain" is a hoax. Find out more about who's behind the push for austerity in deficit hawk America. Learn more about billionaire Pete Peterson and his "Fix the Debt" group of manipulators here: Source Watch

IT WAS THE EXCEL ERROR HEARD ROUND THE WORLD.
In January 2010, as the global economy was slowly beginning to claw its way out of the depths of the Great Recession, the Harvard economists Carmen Reinhart and Ken Rogoff published a short paper with a grim message: Too much debt kills economic growth. They had compiled a comprehensive database of debt episodes throughout the 20th century, and their data told an unmistakable story: Time and again, countries that rack up high debt levels have gone on to suffer years—sometimes decades—of stagnation.

US spending on intelligence has doubled since 9/11, with the National Security Agency and the CIA taking the biggest share, according to the top secret budget leaked by the former NSA contractor Edward Snowden.