Almost 65% of income in Italia, is gov’t based. I know, hard to believe. Yet, that is what happens when the lower class producers are enslaved by foreign monies, that are empowered by gov’t. Incestuous relationships are always self devolving. Thatcher said it best- “The problem with socialism, is that you always run out of other peoples money.” Or, words to that effect. Austerity, is not being able to deliver on false promises. Wow, do the promised hate that reality. The States in the US, have been buying votes, for a very long time. Those promises are just starting to come due.
I can barely believe that figure. Although, I’ve met Italians and I can believe it as they’ve told me that doctors are state employees. I found it too fantastic and suspected personal bias of knowledge.
So is the austerity a simple furlough/reduction in cost like I see here in Chicago, Cook County and Illinois without an offsetting change that allows additional economic liberty?
So it’s an all pain, no gain solution?
My point of thought is that we’re hearing Krugman and other Obamaites stating that “susterity” doesn’t work. But what is the definition for austerity? If it is simply a reduction in government expenses that may or may not be harmful.
For instance, in Chicago you have terrible labor limitations which lead to high unemployment especially among the most economically challenged demographics. If cuts occur without a consummate relaxing in regulatory constrictuion it is bound to fail.
It essentially equates to a bleeding with any healing being blocked by law. Do you see my point? What is Italian austerity or Greek austerity? We need details to make good decisions.