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by akhatri_aus
4049 days ago
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Austerity can't be looked at only from the spending point of view, especially since it carries with it an element of affordability. Its also about looking at taxation receipts. On overall the deficit between the two has been decreasing which is where the 'austerity' terminology is used. The comparison comes in handy where alot of Europe has been going through this (in spite of decreasing or low economic growth) whereas the US increased its deficits too. What I mean to say is austerity is tied more to the affordability as opposed to the absolute dollar amounts. Deficits Year Amount
2009 156.3
2010 148.6
2011 120.6
2012 99.5 |
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