this post was submitted on 02 Jul 2023
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Politics
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Saying that austerity is always bad is pretty dumb too. Economic policy is hard. It’s not a simple as shoving one lever in one direction as far as possible forever.
For example, “austerity” could mean ending corporate subsidies, taxing the wealthy, auditing the wealthy, reducing the military budget, canceling freeway expansions, etc. Too much public debt can absolutely be a bad thing and needs to be controlled.
I concede that you've got a point that austerity isn't an all or nothing proposition. But your examples are laughable. No country that has implemented "austerity measures" has ever interpreted that as "ending corporate subsidies", or "taxing the wealthy", or in any way fucking with the wealthy or military's purse. It just doesn't happen. I agree, that would be an amazing thing. But it just doesn't exist in human history. What ends up happening instead is that they cut the educational budget. Or they cut social programs, like housing subsidies or food subsidies. Because governments aren't run by the lowest common denominator, who actually benefits from those programs. They're run by the wealthy. So no government is going to fuck over its supporters by cutting their benefits.