In response to:

Are Austerity, Shrinking Wages, and Firing of Public Workers Bad Things?

Michael2944 Wrote: Dec 07, 2012 11:26 PM
You are a simple idiot with distorted facts; every year, the actual costs of the wars were reflected in the total spending and change in National Debt. And in the six years that the Republican's controlled Congress (2001 to 2007), the total debt change went from $5,638B to $7,419B (adjusted constant dollars) increase of $1,771B. Then the Democrats took over ...and went 'full throttle' and increased spending - so that now our national debt is $16.5T (an increase of $9 Trillion. You are correct, Congress is more guilty ...but Democrat Presidents also have a habit of threatening total shutdown if their childish tantrums aren't satisfied ....and more spending is always a demand!

The socialists and the Keynesians would have you believe that austerity is a bad thing, and that firing government workers when unemployment is already high is the wrong thing to do.

Anyone believing those myths needs to consider Euro Countries (and the IMF) Can Learn from Latvia’s Economic Success.

In 2008–09, Latvia lost 24 percent of its GDP. It was heading toward a budget deficit of 19 percent of GDP in 2009 without a program...