I shared an astounding chart last month showing that tax increases account for 90 percent of the so-called “austerity” in Europe.
The author the chart, Veronique de Rugy of the Mercatus Center, calls this “private sector austerity” and she correctly argues that her home continent is in desperate need of some austerity on the public sector instead.
The good news is that more analysts have joined the fight, explaining that Europe is in trouble because of a failure to address the real problem of excessive government spending.
Here are some excerpts from a column in USA Today by Matthew Melchiorre from the Competitive Enterprise Institute, beginning with a good summary of how Europe has erred by choosing to impose austerity on the private sector.
In Other News: North Korea Threatens to Hack US if We Don't Acknowledge Their Innocence in Hack Attacks | Michael Schaus
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for December 22nd, 2014 | John Ransom
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance: William's Edge Webinar for December 19th, 2014 | John Ransom
In Other News: New Captain America Will be Black; Racist Liberals Suddenly Become Fans | Michael Schaus
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for December 17th, 2014 | John Ransom