Thursday, April 26, 2012

The Lie That Is Austerity

In a single chart, from (whom else?) Paul Krugman:

In the world of economics, where everything is affected by everything else, this is an absolutely stunning correlation. 

"Austerity," like so many pro-business, conservative doctrines is nothing but a gigantic lie to justify making the 99% pay for the sociopathic greed of the rich.  The very serious people who populate our news media insist over and over again, that austerity is the only path to economic recovery, even though, in every case where it is applied, the exact opposite happens.  And so we continue down the slippery and, as you can see from the above chart, quite steep slope toward the destruction of our way of life.

2 comments:

Jerry Critter said...

Most of all government spending goes back into the economy. When you cut back on government spending, you reduce the GDP. That's why you deficit spend during a recession and cut back on spending during a strong economy.

Republicans under stand the economic benefits of deficit spending. They are the biggest deficit spenders. They only complain about it when Democrats are in power.

Dave Dubya said...

Austerity, aka stick it to the little guy, is the actual goal, not a means of remedy, of "free market" corporatocracy.