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All Da King's Men

All This "Austerity" Is Killing Us

By Da King Published: October 18, 2011

"It is hard to understand politics if you are hung up on reality. Politicians leave reality to others. What matters in politics is what you can get the voters to believe, whether it bears any resemblance to reality or not". - Thomas Sowell

Liberals from here to eternity are wringing their hands over the alleged austerity brought to our federal government by those Tea Party-led House Republican insurgents. Liberals are certain that all this crazy slashing of government spending will send the country into economic chaos, because everyone knows the only good economy is one with a $1.3 trillion deficit (see Sowell quote above). President Obama is on the

campaign trail road right now trying to convince Americans that we must spend tons more money we don't have to fix the economy. Listen to what Reuters says in the cited link:

Democrats have spent much of the year playing defense as Republicans aligned with the conservative Tea Party movement have won record spending cuts in a series of budget battles.

With the recovery stalling, Democrats have shifted the focus from austerity back to stimulus, where they believe they hold a winning hand.

And this:

A July article in USA Today [said], "Already in 2011, softer government spending has sapped growth."

Jared Bernstein, former chief economic adviser to Vice President Biden, wrote over the summer that "government spending cutbacks have been a large drag on growth in recent quarters and have led to sharp losses in state and local employment."

Economist and New York Times columnist Paul Krugman argued in September that "the turn toward austerity (is) a major factor in our growth slowdown."

All those "record spending cuts" and "government spending cutbacks" sure sound like austerity, no ?

But just for kicks, and because people tend to play fast and loose with the truth when it comes to politics, let's check the record. This is from released by the Treasury Department on Friday show that, so far, there haven't been any spending cuts at all.

In fact, in the first nine months of this year, federal spending was $120 billion higher than in the same period in 2010, the data show. That's an increase of almost 5%. And deficits during this time were $23.5 billion higher.

So, during this period of so-called Tea Party-led "austerity", federal spending actually INCREASED by 5%. Liberals are referring to a 5% spending INCREASE as "austerity". Furthermore, federal spending has increased by 97% over the last ten years, and state spending has increased by 72% over the last ten years. We aren't living in anything close to an age of austerity. We're living in an age of skyrocketing government spending...and liberals, as usual, are being less than honest, for the reasons stated above by Mr. Sowell.



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