Austerity measures have been used for several years in Europe. The Austerity measures have crippled many of the economy’s. Greece is a shining example of the damage Austerity does. They needed to be bailed out by the rest of the European countries. There were protests because of the measures that were being taken and the effect it was having on the people.
The fact that Republicans do not see the example Europe set for us is disturbing. Republicans only wish to use Austerity on programs they don’t like. The Austerity measures they fight for are a blatant attack on the poor and middle class. They support cutting aid to the SNAP program but refuse to raise taxes anymore. The Bush Tax Cuts have cost us over $3 trillion, their support of Corporate Welfare cost us $200 billion in 2012 alone. Food Stamps cost us $80 billion a year and for every dollar spent on Food Assistance Programs returns $1.84 to the economy.
They want to cut safety net programs, yet found a 5.8% increase for the Pentagon, which isn’t even asking for it. They want to cut Food Stamps by 25%, yet find another 3% to help subsidize fossil fuel programs. While doing that they want to cut the alternative energy budget in half to $1 billion. These cuts are selective and aimed at businesses that do not contribute to Republican campaigns.
Austerity itself doesn’t work, but selective Austerity has less of a chance of working. The Sequester itself has been a drag on our economy and jobs. It seems as if Republicans are pulling for failure, anything to hurt the Democrats and President Obama. The fiscal and foreign policies of the last administration has done some irrepairable damage to our country. It is going to take many years to repair what can be fixed and a balanced spending cut , tax raising policies. Otherwise we will be stuck in the mud for many years.