Austerity
| Austerity link (Neoliberalism) | |
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| A meme with tenuous connection to the real world which is typically used by rich politicians in an effort to encourage the majority, poor, populations of their country to accept hardship and deprivation. |
Austerity is a set of political-economic policies that aim to reduce government budget deficits through spending cuts, tax increases, or a combination of both.[1]
Official narrative
Austerity measures are generally explained as measures used by governments as a result of the need to pay down the "national debt".[2] The measures are meant to reduce the budget deficit by bringing government revenues closer to expenditures, which is assumed to make the payment of debt easier. Austerity measures also demonstrate a government's fiscal discipline to creditors and credit rating agencies.[3]
Concerns
...to preserve the profits of the few.[4]