The point of Austerity?
I was wondering if there is any economic sense behind implementing Austerity policies? Because no matter how you look at it, it reduces overall economic growth for good or for worse. I know that left wing economists/politicians want absolutely none of it and right wingers want more of it, and that Austerity kinda ties down to the balanced budget mentality. But what are your thoughts on this, Cullen? I’ve searched your blog but couldn’t really find an in depth explanation on Austerity being covered yet. Most of the criticism of Austerity I’ve read about are on left wing sites, so I was hoping to get some of your pragmatic bipartisan views on it.
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