A scam being perpetrated to preserve Big Government while destroying the private sector was exposed in a Thursday 5/24/2012 Wall Street Journal Op Ed by David Malpass. This scam is framed as the debate between Austerity vs. Growth. It is being perpetrated by dishonest politicians and media in both Europe and the U.S. The scam equivocates on the word "Austerity" by conflating together two complete opposites -- Austerity for Governments versus Government-imposed austerity on the private sector.
From the Op Ed:
' The conflict between growth and austerity is artificial and framed to favor bigger government. Growth comes from economic freedom within a framework of sound money, property rights, and a rule of law that restrains government overreach. Businesses won't invest or hire as much in an environment where governments dominate the economy. Thus, government austerity is absolutely necessary for economic growth in both the short and long run.
' Economics has often ignored the critical distinction between austerity for the government and government-imposed austerity on the private sector. In the former, governments which are over-budget sell assets, restrain their hiring, and limit their mission to essentials. That's growth-oriented austerity.
'In the private-sector version of austerity, governments impose new taxes and mandates on the private sector while maintaining their own personnel, salaries and pensions. That's the antigrowth version of austerity prevalent in Europe's austerity programs.'
Please read the whole Op Ed so that you are not fooled by this Statist scam.