Europe proves austerity does not work?

[EdwardBaiamonte]

Austerity generally refers to reduced government deficits rather than increased deficits to stimulate an economy during this recession.

Europe, so the liberal says, is suffering because of austerity but in truth their deficits are going up, not down! So there is no austerity and no great liberal argument as they dishonestly pretend at great length and volume!

Deficits
Spain -6.6% of GDP
France -5.8
Germany -1.3
Italy -4.0
Ireland -10.3
Netherlan -4.3
Austria -3.4

1) these are against a Euro average of -3.1 (2003) before recession

2) notice how Germany is the only responsible country and so the one who is asked to bail the others out with good money after bad money

3) no austerity in USA either with deficits going from 4.2%(2003) to 9% in 2011.

 

[Avorysuds]

Yup.

 

[TNHarley]

Well..
It worked wonderfully for us in history

 

[EdwardBaiamonte]

Well..
It worked wonderfully for us in history

Yes, an average American taxpayer is now $150,000 in debt to the government. Its hard to imagine that being $200 or $250,000 in debt would be good for the taxpayer or the country; yet that is exactly what the liberal would have you believe.

 

[TNHarley]

They are good at disregarding history
Some extreme libtard on here said that our debt is good for everyone
We are advancing or some BS LOL

 

[Toro]

There is austerity in Spain, Portugal, Ireland and Greece. Absolute spending is down in all those countries.

 

[kiwiman127]

How's the double dip recession working in Europe? Oh it's deepening and widening.

 

[TNHarley]

When will people learn that America is not any other country?
Geeeez

 

[oldfart]

Austerity generally refers to reduced government deficits rather than increased deficits to stimulate an economy during this recession.

Well Ed, as usual you have it exactly backward. Austerity is an ATTEMPT to reduce deficits by reducing spending and/or increase taxes in absolute currency terms, which is what Europe has done. The result has been decreases in income and tax receipts which actually caused deficits to increase. So austerity in a downturn causes increased deficits just like it has for the last 200 years of published economic data. Even Eisenhower eventually figured it out.

By your reasoning, if the government increased spending by a trillion dollars or so and it worked, with GDP rising and the debt-GDP ratio falling, that would be true "austerity" would it not?

 

[EdwardBaiamonte]

if the government increased spending by a trillion dollars or so and it worked, with GDP rising

what in Gods name are you talking about??? Conservatives believe, as you ought to know, that a trillion wasted by bureaucrats would not work to increase GDP!! If that was the formula for growth it would not be such a secret and all the world would be doing it, rather than the exact opposite!!!!

and the debt-GDP ratio falling, that would be true "austerity" would it not?

dear, true austerity is a very very small, balanced budget!!!

 

[TNHarley]

Austerity generally refers to reduced government deficits rather than increased deficits to stimulate an economy during this recession.

Well Ed, as usual you have it exactly backward. Austerity is an ATTEMPT to reduce deficits by reducing spending and/or increase taxes in absolute currency terms, which is what Europe has done. The result has been decreases in income and tax receipts which actually caused deficits to increase. So austerity in a downturn causes increased deficits just like it has for the last 200 years of published economic data. Even Eisenhower eventually figured it out.

By your reasoning, if the government increased spending by a trillion dollars or so and it worked, with GDP rising and the debt-GDP ratio falling, that would be true "austerity" would it not?

Who cares what Europe did or didn't do?
Austerity worked for US after the Great Depression
Are you a Keynesian liberal too? LOL

 

[EdwardBaiamonte]

There is austerity in Spain, Portugal, Ireland and Greece. Absolute spending is down in all those countries.

spending is down and deficits are up. You are defining austerity in your way

 

[EdwardBaiamonte]

How's the double dip recession working in Europe? Oh it's deepening and widening.

deepening because there is no austerity. Get it??

 

[EdwardBaiamonte]

Austerity generally refers to reduced government deficits rather than increased deficits to stimulate an economy during this recession.

Well Ed, as usual you have it exactly backward. Austerity is an ATTEMPT to reduce deficits by reducing spending and/or increase taxes in absolute currency terms, which is what Europe has done. The result has been decreases in income and tax receipts which actually caused deficits to increase. So austerity in a downturn causes increased deficits just like it has for the last 200 years of published economic data. Even Eisenhower eventually figured it out.

By your reasoning, if the government increased spending by a trillion dollars or so and it worked, with GDP rising and the debt-GDP ratio falling, that would be true "austerity" would it not?

Who cares what Europe did or didn't do?
Austerity worked for US after the Great Depression
Are you a Keynesian liberal too? LOL

its very very true!! After the war spending plummeted and libturd Samuelson said we'd have a great great depression!! Even that was not enough to kill liberalism once and for all!!

A similar jeremiad was heard in 1943 when economist Paul Samuelson, whose Keynesian assumptions have trickled down to Obama, said postwar cuts in government would mean “the greatest period of unemployment and industrial dislocation which any economy has ever faced.”

 

[kiwiman127]

Austerity generally refers to reduced government deficits rather than increased deficits to stimulate an economy during this recession.

Well Ed, as usual you have it exactly backward. Austerity is an ATTEMPT to reduce deficits by reducing spending and/or increase taxes in absolute currency terms, which is what Europe has done. The result has been decreases in income and tax receipts which actually caused deficits to increase. So austerity in a downturn causes increased deficits just like it has for the last 200 years of published economic data. Even Eisenhower eventually figured it out.

By your reasoning, if the government increased spending by a trillion dollars or so and it worked, with GDP rising and the debt-GDP ratio falling, that would be true "austerity" would it not?

Who cares what Europe did or didn't do?
Austerity worked for US after the Great Depression
Are you a Keynesian liberal too? LOL

Isn't it true that when FDR drastically cut spending, the unemployment rate that was declining, jumped up again? The economy stagnated and Wall Street crashed? Hmmm, kinda sounds like what's going on in Europe.
Now don't get me wrong, I certainly believe that government spending needs to be cut. Many economist have stated that we need to cut spending but not when the nation's economy is on shaky ground. Europe is one example of what happens when austerity is introduced to an economy that is weak and that also holds true to the austerity applied while the US was still in recovery from the Great Depression.
It's best to cut spending when the economy is growing, not when it's fragile.

 

[TNHarley]

Well Ed, as usual you have it exactly backward. Austerity is an ATTEMPT to reduce deficits by reducing spending and/or increase taxes in absolute currency terms, which is what Europe has done. The result has been decreases in income and tax receipts which actually caused deficits to increase. So austerity in a downturn causes increased deficits just like it has for the last 200 years of published economic data. Even Eisenhower eventually figured it out.

By your reasoning, if the government increased spending by a trillion dollars or so and it worked, with GDP rising and the debt-GDP ratio falling, that would be true "austerity" would it not?

Who cares what Europe did or didn't do?
Austerity worked for US after the Great Depression
Are you a Keynesian liberal too? LOL

Isn't it true that when FDR drastically cut spending, the unemployment rate that was declining, jumped up again? The economy stagnated and Wall Street crashed? Hmmm, kinda sounds like what's going on in Europe.
Now don't get me wrong, I certainly believe that government spending needs to be cut. Many economist have stated that we need to cut spending but not when the nation's economy is on shaky ground. Europe is one example of what happens when austerity is introduced to an economy is weak and that also holds true to the austerity applied while the US was still in recovery from the Great Depression.
It's best to cut spending when the economy is growing, not when it's fragile.

GDP went from 44% to 9%
Price control was abandoned
Total output fell, but private-sector GDP rose!
After Truman dumped FDR's radicals, business confidence rose, and investing in America started happening again
FDR was a fool

 

[EdwardBaiamonte]

It's best to cut spending when the economy is growing, not when it's fragile.

100% stupid and liberal !! Why do you think an economy gets fragile???? When government intervenes with housing stimulus spending bubbles or bridge to no where spending bubbles or Solyndria spending bubbles or Obamacare bubbles an economy gets fragile. Why do you think the Soviet Union had a fragile economy!!

capitalism cures a fragile economy or corrects the distortions caused by liberal interventions. Soviet or liberal spending causes the fragility or recession.

There is only one way to fix a recession, let capitalism put things back in their proper places after liberals have misplaced things. Let carpenters, for example, retrain to do something for which there is real demand, not artificial libturd bubble demand!!

Simple enough for you?? Why not read over and over again and ask others for help to understand? Do you want to be a liberal all your life???

 

[kiwiman127]

It's best to cut spending when the economy is growing, not when it's fragile.

100% stupid and liberal !! Why do you think an economy gets fragile???? When government intervenes with housing stimulus spending bubbles or bridge to no where spending bubbles or Solyndria spending bubbles or Obamacare bubbles an economy gets fragile. Why do you think the Soviet Union had a fragile economy!!

capitalism cures a fragile economy or corrects the distortions caused by liberal interventions. Soviet or liberal spending causes the fragility or recession.

There is only one way to fix a recession, let capitalism put things back in their proper places after liberals have misplaced things. Let carpenters, for example, retrain to do something for which there is real demand, not artificial libturd bubble demand!!

Simple enough for you?? Why not read over and over again and ask others for help to understand? Do you want to be a liberal all your life???

 

[EdwardBaiamonte]

It's best to cut spending when the economy is growing, not when it's fragile.

100% stupid and liberal !! Why do you think an economy gets fragile???? When government intervenes with housing stimulus spending bubbles or bridge to no where spending bubbles or Solyndria spending bubbles or Obamacare bubbles an economy gets fragile. Why do you think the Soviet Union had a fragile economy!!

capitalism cures a fragile economy or corrects the distortions caused by liberal interventions. Soviet or liberal spending causes the fragility or recession.

There is only one way to fix a recession, let capitalism put things back in their proper places after liberals have misplaced things. Let carpenters, for example, retrain to do something for which there is real demand, not artificial libturd bubble demand!!

Simple enough for you?? Why not read over and over again and ask others for help to understand? Do you want to be a liberal all your life???

typical liberal without IQ to respond. Ever see a topic a conservative cant handle?? What does that tell you about the liberal IQ and character.

 

[TNHarley]

It's best to cut spending when the economy is growing, not when it's fragile.

100% stupid and liberal !! Why do you think an economy gets fragile???? When government intervenes with housing stimulus spending bubbles or bridge to no where spending bubbles or Solyndria spending bubbles or Obamacare bubbles an economy gets fragile. Why do you think the Soviet Union had a fragile economy!!

capitalism cures a fragile economy or corrects the distortions caused by liberal interventions. Soviet or liberal spending causes the fragility or recession.

There is only one way to fix a recession, let capitalism put things back in their proper places after liberals have misplaced things. Let carpenters, for example, retrain to do something for which there is real demand, not artificial libturd bubble demand!!

Simple enough for you?? Why not read over and over again and ask others for help to understand? Do you want to be a liberal all your life???

you have really handled yourself well