David Cameron announces resignation

Re:David Cameron announces resignation by Shivetya on Friday June 24, 2016 @07:28AM (#11968865)

Still trying to understand how austerity can still mean increasing spending. Looking at their expenditures they peaked in 2009 at 51.5% and dropped to lower forties but much of that has been because the economy finally started recovering faster than the government could spend money mostly because of pressure on politicians not to.

However the key here is, they never spent less than the year before, simply reduced the amount they increased spending. Increasing spending is not austerity

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Re:David Cameron announces resignation by adventured on Friday June 24, 2016 @11:59AM (#11970823)

Simply put, there never was austerity in most of Europe. That's a propaganda line to simultaneously cover the lack of economic growth for nearly a decade, and to use as an excuse to acquire a larger State through even greater spending.

You can go line by line down the list of European countries and their government expenditures. Only a few of them reduced spending, most have increased spending. In actual fact, only two or three nations experienced any real austerity, but they all pretend to have.

What they're really experiencing, is the total suffocation of economic growth by extreme debt. The exact same thing Japan has been enjoying for a quarter century.

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