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It comes from the idea that, contrary to what naive people might believe, every cent of government spending is actually thrown into a black hole and has no impact on the overall society. Therefore, if you cut government spending, you can get a government's debt in control with no unpredictable consequences, because we've decided for ideological reasons that government spending has no positive impact on the economy, and therefore the removal of government spending will have no negative impact. The real answer is that austerity's goal has nothing to do with improving an economy, and everything to do with hysterically focusing on month-to-month debt servicing, at any expense, in order to give investors time to de-leverage themselves from the country in question.
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Jul 15, 2015 23:16
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| # ¿ May 9, 2024 16:57 |
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