US27 - No Austerity
Government spending is essential in a time of economic crisis, and helps drive the broader economy. Cutbacks in services and public sector jobs reinforces a downward economic spiral.
The American economy is growing, even if slowly. European economies, by contrast, are in double-digit recessions. Even if the deficit and unemployment are rising in America, in Europe the problem is much worse, with unemployment in Spain over 25% and rising fast. Absurd tax measures have been applied, with a tax on owning a house in Ireland, and in France austerity has angered the public so much the new Socialist government has now introduced a 75% top tax rate. There is no easy answer, but the social and economical consequences to ordinary people are just too much.
This recession has forced families and businesses across America to make hard choices and limit their expenditures. We must now expect our elected officials to make the tough calls that will keep our government on a sustainable path moving forward. We must restrain spending across the board. Stop spending on the fiscal stimulus, transportation, energy, housing, and all other special interests.
Correction: Proper government spending is essential. You can spend as much as you want, but if it doesn't return anything, you've just spiraled in a circle.
Think of it as investment, you spend a little and get a greater return later. As the lacking results of the stimulus showed us, the administration did not invest properly, giving to companies that went bankrupt, building roads that did very little to the economy.
Unless there is someone who is very good at making investments leading the helm, all massive spending is going to accomplish is delaying the inevitable, and leading to obscene tax moves like the ones in Britain (taxing all wealth rather than income) and France (huge tax hikes).
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