Fantasizing about Austerity

Those on the left continue to fantasize about what austerity is. There are only two reasonable ways of defining austerity: (1) a reduction in government spending as a percentage of the economy; and/or (2) a reduction in per capita government spending in real dollar terms. As I've described in American Thinker before, Canada did undergo austerity between 1993 and 2006. This period of Canadian austerity resulted in a massive reduction in government debt and per capita government expenditures, an equally large reduction in the unemployment rate, and a much faster rise in per capita GDP than had occurred in higher spending times. Strangely enough, this all occurred under a liberal government having a moderately fiscally conservative finance minister. Since 2006, Canada has been governed by the so-called Conservative Party -- a government that, despite its name, is neither fiscally nor socially conservative. In the Huffington Post on August 15, Nick Fillmore made some ridiculous...(Read Full Article)