The stupid, idiotic Progs in the US believe that "austerity" in Europe means "Tea Party" cuts. LMFAO! You people are SO stupid.
Government spending has risen as a share of GDP in all of the major economies. Average government spending by EU nations today stands at approximately 49.2% of GDP — v. 44.8% in 2000. On its own website, the EU itself ridicules the notion of government austerity as a "myth."
"National budgets are NOT decreasing their spending, they are increasing it," the EU says, noting that in 2011, 23 of the 27 nations in the EU increased spending. This year, 24 of 27 will do so.