Goldman Sachs chief executive Lloyd Blankfein has launched a scathing attack on the US government's austerity program, arguing growth will derail significantly once the Bush-era tax cuts expire in January.
Blankfein said with the prospect of a fiscal cliff hanging over the US economy, which economists forecast could wipe around 3% off GDP, now is not the right time for the US to be carrying out austerity...
In an environment where yields are so low, costs can make a huge difference to the outcome’
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