And the alternative to austerity is what?

Okay all you Europeans who’ve voted against austerity, what do you think more government spending is gonna get you?

In the US, it has gotten you slow growth and a drop in unemployment only to the extent that job-seekers are getting fed up with looking and have dropped out of the labor force.

Similar story in Japan, where 20-years of stimulus spending has driven the debt to GDP ration to 220% and the economy is still flirting with deflation.

So, spend to your hearts content. Ain’t gonna do you very much good…