Tigerlure said:
thranx said:
Things in the US still have not recovered. High unemployment. High underemployment. Beginning a new housing bubble. The education bubble will have to burst sometime. Dont see how you can say we have spent ourselves into the good times when we haven't, and we still have to pay it all back. Also dont know how you can say that austerity has failed when we aren't through the mess yet. I say its too early to call right now. Why dont we wait until we are actually paying of our debt, have a good unemployment % and underemployment is a thing of the past before we declare a winner. |
They've been trying that in Europe for a few years. Where has it gotten them? Some of the countries are almost entering a recession again. Maybe a few years isn't enough time, but it certainly hasn't convinced me that austerity is helpful when you're already in a weak economy.
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I wouldnt call 50%-70% tax on its people austerity, they are spending less than they did before, but they also had a massive problems. I dont see any country that has spent its way to propsperity yet either. A few years is not enough, you cant call a winner until things are close to where they were and their is confidence in the economy again. I dont see any signs of that. I am open to examples of countries that managed to spend their way to success, but I cant think of any. I do concede that things aren't as bad as I thought they would be with our continued spending, but I also dont think we're through it yet so things can get worse again.
