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Why Austerity is Necessary: short version

US White House state dining room during Bush PresidencyDoes anyone honestly think austerity is important to the restoration of fiscal balance because discipline and frugality lead to wealth [1]? The people promoting austerity are invited to dinner in places like the room to the right. They’re doing well and not practicing austerity, so the answer must lie elsewhere.

And, really, it’s not that hard to figure out if you remember not to listen to a word they say.

Because austerity! It sounds so much better than,

“You pay for it. I don’t want to.” And way better than,

“I don’t need you for anything, Bub. Pay up.”

Full disclosure: I am (obviously) not an economist.