Austerity Has Failed in Europe


Bowing to mounting evidence that austerity alone cannot solve the debt crisis, European leaders are expected to conclude this week that what the debt-laden, sclerotic countries of the Continent need are a dose of economic growth.

Economic growth raises all ships -- it creates tax revenue and mitigates budgetary shortfalls.

Of course the austerity fetishists here will continue to worship a process that makes zero sense and is, in fact, counterproductive in a slow growth economic recovery. And yada yada yada. How much more evidence do we need before the budget cutters shut the fuck up?