Austerians Create Unemployment
Austerian doctrine states that if we can get the deficit down even during periods of economic slowdown and massive unemployment, we shall see an economic upturn. So far this hasn’t happened anywhere on earth. (There are some claims that two former states of the Soviet Union have done okay with it. I don’t believe that. If you want to, that’s okay. It’s just that I don’t go to the former Soviet Union for my economic data.)
But they have managed to move the economy. Their philosophy has resulted in the destruction of 2.2 million jobs and that’s only in the United States. Ideas move the world, and here we have solid evidence that bad ideas can move the world in the wrong direction.