"There is a belief among what I'll call faux-conomists out there, some of whom are on the right, some of whom are on the left, that austerity in the United States right now will bring prosperity. That is not the case. We are at a very delicate point in this economic recovery where a fiscal policy that's too tight may weaken the economy, not shore it up," warned Insana, adding that "Everybody is getting a little too austere for this point in the cycle, and I think we're making, we're on the brink of a policy mistake that could prove rather nettlesome for us."