The issue of austerity is one that has been debated for many years. The idea of cutting government spending to balance budgets, in the long run, is a popular one in some circles, but it does not work when governments are in an economic downturn. Austerity measures have actually worsened the global recession and led to more joblessness worldwide. There are better ways to balance budgets without crippling economies or increasing unemployment rates.
The problem with austerity measures is they don’t work because they worsen recessions and lead to higher unemployment rates around the world. Governments should find better ways of balancing their budget – like raising taxes on wealthy people instead of laying off public employees – so that we can avoid this kind of economic pain during these difficult times.
Austerity is not a solution because
- It will lead to high unemployment rates
- it will lead to higher poverty levels
- government needs to spend more money on education and healthcare
- it will result in lower living standards for citizens, which could lead to social unrest or violence
- there are other solutions that would be better suited for our economic situation – such as stimulus spending, deficit financing, and tax increases on the wealthy
- Austerity isn’t even working in Europe! Countries like Greece have seen their economies shrink by 25% since austerity measures were put into place