Tuesday, May 17, 2011
As the United States surpasses the debt ceiling today, and Obama and Boehner play "let's make a deal" for deep cuts to the budget, citizens must prepare for austerity measures of higher taxes and less benefits. These cutbacks won't necessarily be as evident as European austerity, because Americans scarcely get anything tangible from their tax dollars. However, cutbacks will likely bring similar hardship and protest.
The increasingly ferocious protests over public service cuts and asset looting in the Euro-zone hints at what may be in store for America. Over the weekend a Washington Post article described the escalating unrest in Greece over punishing austerity measures. However, the thrust of the article was to create the new enemy of the economy recovery: austerity "anarchists".'
Posted by DotConnector at 08:52