Austerity doesn't help the economy
For all you conservative deficit hawks I have some questions and answers.
Question: Which recent president increased the growth rate of government spending on a per-capita basis?
Answer: President George W. Bush. (Yes this includes the tax decreases and the wars.)
Q: Which recent president decreased the growth rate of Government spending on a per capita basis?
A: President Barack Obama.
Q: How did we recover from the Great Depression?
A: By using government spending to facilitate increases in the Gross Domestic Product. (Yes, this included the war costs.)
Q: What happens when you have a severe austerity program during a severe recession?
A: Look at current Greece (Want to be like them?)
Q: Have you ever heard of Keynesian economic theory?
A: Probably not.
P.S. We are currently reducing the national debt as a percent of GDP and will further reduce the debt under a long-range plan.
This is Economics 1.01.
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