American Austerity: Following Europe Down The Drain

money toiletFrom Investopedia:

aus·ter·i·ty. noun \ȯ-ˈster-ə-tē, -ˈste-rə- also -ˈstir-ə-\
…the measures taken by governments to reduce expenditures in an attempt to shrink their growing budget deficits.

I would like to direct your attention to a few particular phrases in the article linked below. The first of which is “European style austerity measures”. What they are indicating with this phrase, is that our ‘painful and indiscriminate” budget cuts are completely meaningless, just as the “austerity measures” attempted in Europe are completely meaningless.

Next up – “No one wants them;”. This is a clear indication that the message of the Tea Party from 2009, is completely dead. That no one, inside or outside of our nation is hearing our grievance, is disheartening and shows an utter lack of ability to message on our part. We’re losing to the Imperial Media.

Finally, comes the most damning of the phrases, which clearly illustrates our destiny of failure and collapse: “Exempt are welfare programmes for the poor and vulnerable…”. Without meaningful reductions to our entitlement spending, our nation is doomed. If we can’t figure out how to make $85B in cuts to completely discretionary spending, we are utterly, and hopelessly, doomed. On a positive note, the title of the linked article, “Austerity America: The United States Face An Uncertain Future” indicates that foreigners still see us as the nation we were designed to be, free & independent states, confederated around a common purpose and belief in individual sovereignty and liberty. That nation is doomed.

Have a great Friday.

The munificence of Uncle Sam may suddenly be diminished as of late tomorrow night when a slew of painful and indiscriminate government spending cuts are due to come into effect. America, land of the free-spenders, is about to get its first taste of European-style austerity.

A product of the failure of Democrats and Republicans to agree on a prescription to cure the country’s deficit disease, the cuts – $85bn by the end of this year and $1.2trn over 10 years – are due officially to come into effect at midnight tomorrow. No one wants them; no one seems to know how to avert them. A nation has been left to stumble blindly into unknown fiscal territory.

For its part, the International Monetary Fund warns that, if fully implemented, the reductions will trim about half a percentage point off the country’s economic growth rate in 2013. All across the US, interest groups and industries are warning of particular areas of calamity. Farmers, for instance, are predicting the “first widespread shortage” of meat, poultry and eggs in decades because of cuts to food inspection teams.

The impact will not become clear all at once but, without a political truce soon, it may quickly become unmistakable. Exempt are welfare programmes for the poor and vulnerable and military salaries. But everywhere else, government will be forced to pare back on budgets. First to feel the brunt may be federal workers who will be asked to take furloughs – periods at home without pay – starting 30 days from today.

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5 Responses to American Austerity: Following Europe Down The Drain

  1. RJ says:

    Once again the leftist govt is controlling the media and language, everyone is convinced these cuts will be the sky falling on our heads.

    The freaking truth is they are proposed cuts to projected FUTURE growth/spending. For christ sake it is a flat out shell game. Designed to bankrupt the country for the next hundred years.

    The only rational explaination is intentional destruction of our economy and value of our money to bring about the downfall of the US as a super power.

    We are doomed.

  2. R.D. Walker says:

    Yeah, I ain’t gonna have no fucking austerity if the government makes these cuts.

    You know, they can keep on pitching this punk ass bullshit but it will still be punk ass bullshit. It is propaganda most foul and anyone who believes this will have net negative effect on the US economy is a fool.

    In fact, the only reason this will be painful at all is because the Administration will go to great lengths to cause deliberate pain. Even that will be trivial.

  3. notamobster says:

    How completely and utterly screwed is the world when they believe that the future becomes uncertain, because we choose not to increase spending by $85B in a $3.8T annual (non) budget, of which, 45% is borrowed? Ha!

    It would be fodder for ridicule and laughter, if it weren’t so deadly serious and dangerous to the future of our nation.

  4. Jim22 says:

    Our politicians have no stomach for austerity. They have bought into the tax, spend to buy votes concept. We are heading down the road that Greece took.

    Greece is facing a serious shortage of medicines amid claims that pharmaceutical multinationals have halted shipments to the country because of the economic crisis and concerns that the drugs will be exported by middlemen because prices are higher in other European countries.

    Hundreds of drugs are in short supply and the situation is getting worse, according to the Greek drug regulator. The government has drawn up a list of more than 50 pharmaceutical companies it accuses of halting or planning to halt supplies because of low prices in the country.

    Separately, it was announced on Tuesday that the Swiss Red Cross was slashing its supply of donor blood to Greece because it had not paid its bills on time.”

    http://www.zerohedge.com/news/2013-02-28/greeks-panic-drug-firms-slash-supplies-90-bad-debts

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