The truth is, austerity in a bad economy has been proven again, and again, and again, to be reckless.
Europe, four years ago, as in a similar situation to us. Europe embraced the conservative solution -- austerity.
The United States embraced the liberal solution -- deficit-fueled demand injected into the economy by the government.
Now, one entity is headed in the right direction. The other is at 12% unemployment and rising.
The fact that the Obama administration was able to do this while cutting the deficit he inherited by 300 billion dollars is unheardof.
But it's not terribly surprising. In modern American history, Democrats fix the deficit, Republicans explode it.