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Austerity is blamed (It was never tried and found wanting... it was never really tried at all)
Washington Times ^ | 05/08/2012 | Richard Rahn

Posted on 05/08/2012 6:25:38 AM PDT by SeekAndFind

Denial is leading to collective economic suicide in Europe and the United States. The French on Sunday elected a socialist president who wants to raise taxes on those elusive rich and keep spending as if there is no tomorrow.

Many on the left, including European socialists, the New York Times and its economist Paul Krugman, are falsely claiming that Europe and even the United States are being saddled with austerity. Their claim is that governments are not spending enough to reduce unemployment. They want higher taxes on the most productive plus bigger government. They suffer from a collective memory loss.

Don’t they remember that socialism did not work? Every time the big-government “solution” has been tried for the past two centuries, it has failed, but those on the left seem to be incapable of learning.

When the current economic crisis began - largely caused by a government-created housing bubble - we were told that if the government spent an extra trillion dollars or so and ran up the deficit, all would be well. Did it work as advertised in the United States? No. In the United Kingdom? No. In France? No. In Italy? No. In Spain? No. And not even the left wants to talk about Greece.

The accompanying chart shows that rather than the austerity the left is whining about, government spending has risen as a share of gross domestic product (GDP) in all of the major economies. Again, the left said unemployment rates should have come down by now, but the opposite is happening. The U.S. unemployment rate has come down slightly, but the percentage of the labor force at work continues to decline, so the real unemployment rate is approximately 15 percent.

(Excerpt) Read more at washingtontimes.com ...


TOPICS: Business/Economy; Culture/Society; Foreign Affairs; News/Current Events
KEYWORDS: austerity; europe

1 posted on 05/08/2012 6:25:44 AM PDT by SeekAndFind
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To: SeekAndFind

Austerity will come anyway. But now, in France and Greece, it will be much more painful when it does arrive.


2 posted on 05/08/2012 6:29:02 AM PDT by Rummyfan (Iraq: it's not about Iraq anymore, it's about the USA!)
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To: SeekAndFind

It’s “doubling down,” the latest name for liberal psychosis.


3 posted on 05/08/2012 6:29:02 AM PDT by Steely Tom (If the Constitution can be a living document, I guess a corporation can be a person.)
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To: Rummyfan

Big time austerity will come anyway.

It’s like a bad tooth.

Either you suck up the moderate pain now, or you suffer through mind numbing pain and big dollars later.

The leaders are chosing later because they think it won’t affect them. They have gotten theirs.


4 posted on 05/08/2012 6:35:33 AM PDT by Texas resident (Hunkered Down)
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To: SeekAndFind

Yeah that sucks.

Now go pay your taxes - your government is broke. :)


5 posted on 05/08/2012 6:45:22 AM PDT by Tzimisce (THIS SUCKS)
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To: SeekAndFind
When I take a look at what happened in Europe over the weekend and what the various liberal pundits are saying the US needs to do a single phrase comes to mind; “Bread and circuses”.

For those few who don't recognize the term it was coined to describe the Roman Empire prior to its collapse. The various Emperors knew they would stay in power if they could accomplish two things: first, prevent the Praetorian Guards from performing their traditional duties of assassinating a Emperor that displeased them. Second, prevent the poor inhabitants of Rome from rioting and burning the city down.

They handled the Praetorian Guards through outright bribery.

They handled the mob through free bread, and circus. The first kept the mob feed and the second distracted them. I think there are contemporary articles from that era that reported that the mobs had to be at the circus to get their free bread.

Here we are over 1500 years later and I see the same trend happening; politicians attempting to stay in power by either promising of providing free bread and circus to the nonproductive masses. It didn't end well for the Roman Empire and can see no reason why it can end any better in the 21st Century.

6 posted on 05/08/2012 6:59:52 AM PDT by Nip (TANSTAAFL and BOHICA)
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To: SeekAndFind
Photobucket
7 posted on 05/08/2012 7:10:37 AM PDT by baddog 219
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To: SeekAndFind

Wonderful paraphrase in the title - so true here too, sadly.

The quote in the title is from G.K. Chesterton about Catholicism and its critics (it was never (truly) tried (by them) and found wanting, it was just never tried).


8 posted on 05/08/2012 8:40:00 AM PDT by If You Want It Fixed - Fix It
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