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