Debunking the Austerity Charade in Europe
Originally posted on International Liberty:
I wrote a detailed blog post yesterday, showing that European governments have been very reluctant to restrain the burden of government spending.
Part of the problem is that the debate in Europe is a no-win exercise, pitting proponents of higher taxes (which is largely how Europe’s political elite defines “austerity”) against proponents of higher spending (notwithstanding a long track record of failure, the Keynesians have come out of woodwork and are claiming that bigger government stimulates “growth”).
With these terrible choices, no wonder the continent has such a bleak future.