Austerity Not Austere For Europeans

Each day brings new evidence Europeans are disgusted with government policies which seek to reduce expenditures in order to restart economies. Of course, over fifty years ago John Maynard Keynes put to rest false notions that reducing government expenditures is the road out of recessions. In America, right wingers denounce the “European ideas” of Barack Obama even though European nations like Ireland, UK, Spain, Italy, France, etc.. are putting into practice Republican ideas about reducing government expenditures.  Of course these European measures are being carried out by Capitalist governments even while Republicans are denouncing Socialist governments for European problems.

President Obama has made mistakes, but his current programs of stimulating the economy are on the right track. The US economy is leading all but Germany in recovery even as Republicans demand he carry out  austerity programs. Firing people leads to unemployment, not to employment. US corporations have witnessed–under Obama–doubling of the Dow Jones and they are sitting on over $2 Trillion in their corporate accounts. They have NOT been impacted by taxes and the fault lies in failure to hire people, get them working and get them paying taxes.