While Republicans push budget cutting austerity measures here in the United States – the world is getting a glimpse of just how bad austerity is for the economy in the United Kingdom.
Turns out budget cuts don’t create jobs – they kill jobs. After a year of austerity – unemployment has increased to 8.1% - higher than any other time since 1996. And now – 1 in 5 Britons between ages 18 and 24 are unemployed – the highest rate since 1992. Along with persistent unemployment – the British economy has failed to grow – staying stagnant now for more than a year. So yeah – if we want high unemployment and no growth – then we should do what the Brits are doing – and what Republicans here want to do – cut spending.
4 comments:
Sounds real logical. Look what government spending at unprecedented level for the last three years has done here in the USofA -everybody is working and the economy is robust - right?
To quote the great Western philosophical genius Ron White - "You can't fix stupid."
actually 10:43, most economists say gov. spending has kept us out of the duldrums of depression.
Actually 11:29 that would be most economists at a meeting of the socialists for more government; the majority of economists in academia, think tanks, and corporate America have clearly shown that the stimulus cut the natural emergence from the 07-08 recession off at the knees, removed more discretionary dollars from the economy than it put in, and totally thwarted creation of jobs and economic growth. Probably need to review some other sources of information.
If that were true, there should not be any unemployed people.
Post a Comment