"Veronique de Rugy, who compiled this data, writes:

First, I wish we would stop being surprised by what’s happening in Europe right now. Second, I wish anti-austerity critics would start acknowledging that taxes have gone up too–in most cases more than the spending has been cut. Third, I wish that we would stop assuming that gigantic “savage” cuts are the source of the EU’s problems. Some spending cuts have been implemented in a few countries. Also, if this data were adjusted for inflation (which I would prefer but the data isn’t available) it would possibly show a slight decrease and certainly a flatter line for all countries. However, the overwhelming take away from the European experience is that a majority of governments haven’t really implemented spending cuts, large or small, and some have even continued to grow.​

There is further discussion at the link. Via Pat Lynch, here you will find OECD data, no country is spending below its 2004 level."

http://marginalrevolution.com/marginalrevolution/2012/05/how-savage-has-european-austerity-been.html




"We are told that austerity in Europe has failed. The elections in France and Greece, for instance, are supposedly evidence of people’s opposition to severe cuts in spending. However, the growing anti-austerity backlash against Europe ignores one fundamental point: If there is austerity in Europe, in most cases it hasn’t taken the form of massive spending cuts.Following years of large spending expansion, Spain, the United Kingdom,

France, and Greece—countries widely cited for adopting austerity measures—haven’t significantly reduced spending since “austerity” supposedly started in 2008.

First, France and the U.K. have not cut spending. Second, when spending was actually reduced—between 2009-2011 in Greece, Italy, and Spain—the cuts were relatively small compared to the size of their bloated European budgets. While Italy reduced spending between 2009-2010, it also increased spending in the following year by an amount larger than the previous reduction. Most importantly, meaningful structural reforms were seldom implemented. Whenever cuts took place, they were always overwhelmed with large counterproductive tax increases.

This so-called balanced approach—some spending cuts for large tax increases—has been proven to be a recipe for disaster by economists. It fails to stabilize the debt, and it is more likely to cause economic contractions."


http://www.zerohedge.com/news/europes-phantom-austerity-spending-cuts



So THEY got into this mess by OVERSPENDING and must SPEND MORE to get out of it?


The problem is they spent to much over the last DECADE with no checks and balances and are so OVER what they can actually afford, ANYTHING they do will hurt.


America is headed there, but not there yet and we should LEARN from the example and BALANCE our budget NOW.

"In France, for example, the so-called austerity largely consisted of raising taxes. There was a 3 percent surtax on incomes above €500,000, an increase of one percentage point in the top marginal tax rate (from 40 to 41 percent), and an end to the automatic indexation of tax brackets for inheritance, wealth, and income taxes. There was also a 5 percent hike in the corporate income tax on businesses with revenue of more than €250 million, as well as a hike in the capital-gains tax, and closure of several corporate tax breaks. And even though most of these tax hikes were aimed at the wealthy, the middle class did not get off free. There was an increase in the Value Added Tax (VAT) and the excise taxes on tobacco and alcohol.


That’s an agenda that should gladden the heart of any tax-increase zealot — or even Paul Krugman.
True, there were some entitlement reforms and spending reductions. But they haven’t actually occurred yet. For example, France will raise its retirement age from 60 to 62, but not until 2017! A cap would also be put on government health-care spending, starting next year. It is a little hard, therefore, to discern whether it is budget cuts that may or may not happen some day in the future, rather than tax increases today, that have slowed French economic growth."


"Or take Britain, where the Tory-Liberal coalition recently suffered a drubbing in local elections, in part as a reaction to so-called austerity measures. Among the Cameron government’s first “austerity” measures was to hike the personal income tax to 50 percent for those earning more than £150,000 a year. That measure managed to actually decrease income-tax revenues by £509 million. The U.K. did trim government payrolls and cut back on some government programs, but British government spending still consumes more than 49 percent of GDP. Government spending actually increased by £59.2 billion from 2009 to 2011."

http://www.nationalreview.com/articles/299425/europe-s-failed-austerity-michael-tanner#

"In France for example, according to Eurostat, annual expenditures have actually increased from €1.095 trillion to €1.118 trillion in 2011. In fact spending has increased every single year for the past decade. The debt there increased too from €1.932 trillion €1.987 trillion last year, just as it did every year before."

Read more at NetRightDaily.com: http://netrightdaily.com/2012/05/what-austerity/#ixzz1yIGtW59E​

"In Italy and Spain, which have been dependent on tens of billions of cash infusions from the European Central Bank (ECB) to refinance their debts, cuts are hardly anywhere to be found either. In Spain, spending was cut by just €11 billion in 2011, a mere 2.3 percent reduction. In Italy, spending actually increased by €4.3 billion.

Both countries borrowed an additional €117 billion last year alone, raising their combined debts to €1.939 trillion. So, no austerity there. Just debt slaves."

Read more at NetRightDaily.com: http://netrightdaily.com/2012/05/what-austerity/#ixzz1yIH8pI7z​

​

democrats don't understand as well as half the other politicians around the USA. You can't spend your way out of debt! If you could we would have trillions in surplus.
hell I'd be a fucking multi-millionaire.

barry is so deep in wall streets pocket he tickles their dick so he can play pocket pool.
so the insurance is paid by the company who includes the cost in the price of its product which is paid for by the consumer. taxes aren't paid for by the company, they're paid for by the consumer. you know that shit. the whole system is a fukn tax to get more of the peoples money.
and yeah most mexicans that I've dealt with are hard workers, that's why the cotton gins prefer them over the local natives. but if amigo want's to work here he needs to be legal.

I don't think any illegals vote, if you are illegal why would you try and vote? It makes no sense. And yes elections are rigged. There is a massive move in Florida again, to disenfranchise voters, there are robo calls that go out that tell people they don't have to show up and vote, there are people who will do anything to keep people from voting, and the voting machines are made by corporations, who benefit from policy by certain candidates. You're dreaming if you think they aren't.

http://search.yahoo.com/r/_ylt=A0oG...97/**http://www.opensecrets.org/orgs/list.php

looks like democrats have been doing pretty good themselves, especially with the unions.

This is true Red, Dems have been more pro-union and Republicans more big and small business.

http://www.opensecrets.org/orgs/list.php