It Wasn't "Austerity" Then And It's Not "Prosperity" Now

The word “austerity” itself has thus come to mean something very different than its actual definition. What it really indicates, and why Economists so despise it, is to reject Economics’ recommendations about how effective fiscal “stimulus” can be. Its not about cutting back spending in absolute terms, rather it’s about scaling back from the total absurdity of an open-ended commitment where you can never admit it doesn’t work.

