Europe is in serious trouble. Why? The evil right wing austerity nutjobs. They continue to drastically cut spending to draconian levels (and hike taxes, but ignore that). These immense spending cuts that have taken Europe back to the middle ages—crushing their economies and risking the lives of millions or something.
In Athens, the people are resorting to dumpster diving for food.
In Spain students and teachers are striking against vicious cuts to education.
In France, the people finally put a real socialist in office, as opposed to those near-socialists who were in office before—promising an end to austerity.
Nobel Prize winner economist, Paul Krugman even warned that these horrible consequences of austerity measures could come here:
“Mitt Romney is saying basically that spending cuts are how we’re going to get to prosperity. Mitt Romney is saying, see what’s happening in Greece and in Portugal and in Spain and in Ireland; let’s do that here.”
How terrible! Sure, it sounds horrific. But, imagine what the cuts in spending must be like to evoke those reactions. That’s even more scarier!!!!!!!! The mostest scariest!!!!
The way the media talks about it, European spending levels have fallen off like the stock market crash of 1929!
Actually, the European spending chart isn’t quite as dramatic as you might expect. Remember—according to Krugman and the left, Europe has experienced dramatic spending cuts. Here’s the truth:
But, it’s amazing to stop and think about this stuff every once in a while. We’re told that Europe has experienced massive spending cuts. Yet, the only country to cut spending at all was Greece, who cut it all of 8% in three years. Spain hiked its spending by 4%, the UK hiked it by 8%, Italy hiked it by 3%, and France hiked it by 9%. And they raised taxes on top of it, something no one on the right is actually advocating.
To every household on earth, cutting spending means actually spending less than you were previously. Only in the media does a 9% increase actually mean a decrease. And we wonder why we’re so screwed.