Tuesday, May 7, 2013
Austerity Has Cost the US 2.2 million Jobs: Study Says
http://www.huffingtonpost.com/2013/05/06/austerity-jobs_n_3224762.html?utm_hp_ref=tw. Due 18 May 2013. Read it and weep!!
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Welcome. This is a blog dedicated to the students enrolled in the CSHS AP Economics classes. Click on the title of the article, read, and click comment.
The massive government spending reductions< known as austerity, have had a substantial effect on the US economy. Since the end of the 2008 recession, the government has cut approximately 500,00 jobs. In a typical recession the government hires 1.7 million workers. This means that the US government has lost 2.2 million jobs since the start of austerity. If austerity never occurred, the Federal reserve would not have had to start quantitative easing.
ReplyDeleteThe austerity measures that have put into effect, partly due to the false "findings" of the two infamous Harvard professors, have started to errode our already fragile economy. Austerity measures are a bad idea, and cause more problems then they fix. All we have to do is gaze across the pond, and take a look at Europe, and its crumbling economy, due impart to the austerity measures that have been put into action. Austerity simply does not work. The worst part of it is, is that our inept government will not change anything about this austerity measures based on the facts presented to us by Europe. Instead they will only help a measure if it becomes an inconviences to them, i.e. the Air traffic controller delima.
ReplyDeleteThanks to austerity we are doing the opposite of what our country should be doing. We have fired/cut over 1,000,000 people when we should have been hiring people! Austerity does not work and now we have to face the consequences of having the slowest job market recovery next to World War II. We should be spending not cutting expenditures.
ReplyDeleteJaime Caldaro
ReplyDeleteThe government has been using the austerity theory, which cuts government spending during a recession instead of increasing it. Since the end of the 2008 recession, the government has cut approximately 500,00 jobs. Which is the opposite of increasing government spending, the government is creating a deep hole for the economy to crawl out of.
The obnoxious gov't spending reductions have had a huge effect on our economy. Since the conclusion of the recession in 2008, the gov't has cut around 500 thousand jobs. Usually, the gov't hires 1.7 million people. Therefore, the US gov't lost 2.2 million jobs since the start of austerity. If it weren't for austerity, the Fed wouldn't have had to start quantitative easing.
ReplyDeleteThe US government's recent cuts to spending have yielded unsurprising results - they're ruining the economy. Of course, this is true of all austere policy measures, as they don't comply with simple economic policy. The fact that we're experiencing the slowest climb out of out recession since World War II is especially telling. The government needs to pull itself together if we have any hope of making a full recovery.
ReplyDeleteDue to austerity we are doing the opposite of what our country should be doing. We have fired/cut over 1,000,000 people when we should have been hiring people, lowering unemployment. Austerity does not work and now we have to face the consequences of having the slowest job market recovery next to World War II. We should be spending not cutting expenditures.
ReplyDeleteBecause of austerity, we have been doing the opposite of what our country should be doing. We have fired/cut over 1,000,000 people when we should have been hiring people! Austerity does not work and now we have to face the consequences of having the slowest job market recovery next to World War II. We should be spending not cutting expenditures.
ReplyDelete-Jacob Hochman
Austerity will cause the country to go in the opposite direction . We should be giving people jobs not taking them away from people. Austerity is not workings and now we have to wait for the job market to recover. This is the slowest job recovery next to WW2. We should be spending not cutting jobs and stuff like that.
ReplyDeleteAusterity has become one of the biggest challenges for the US. It has caused 1 million people to be cut from jobs, when we should be solving the unemployment problem. The recent cuts the government has made from austerity is causing a much slower economy. This severe recession is considered the slowest job recovery next to World War II.We should be spending money instead of cutting money.
ReplyDeleteThroughout the last five years of our country's "recession" we have caused some major challenges through our economic decisions. Instead or creating jobs, we have cut them. The federal reserve is calling out a tight fiscal policy but this recovery is occurring at a slower rate than that which happened post-World War II
ReplyDeleteDue to austerity within the government, over 500 thousand jobs have been cut since the recession in 2008. This is to say that austerity only causes harm to the people living within those economic boundaries. In an economy where during a recession more people are employed, our unemployment rate is increasing at a rate slower than the one experienced after World War II. Spending will help the economy grow and flourish, not decreases in spending.
ReplyDelete