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'Spain is justly proud of Paella, a distinctive dish that mixes diverse vegetables or seafood into a tasty fusion of delectability. They have now created a political version in the form of Tahrir Square type encampment in Madrid's Puerta del Sol where a diverse mix of activists - old, young, male, f

MADRID - Hundreds of thousands of disillusioned Indians cheer a rural activist on a hunger strike. Israel reels before the largest street demonstrations in its history. Enraged young people in Spain and Greece take over public squares across their countries.

Call it the austerity death trap. Under these circumstances, the harder a country works to cut its debt, the worse the ratio becomes - because the economy shrinks even faster. Greece is already in the trap. Spain and Italy are perilously close. Even Britain, France, and Germany are tip-toeing up to it. And now us. Deficit hawks have to understand: The first step must be to revive growth and jobs. That way, revenues increase and the debt/GDP ratio drops. Only then - when the economy is back on track - do you start cutting.