Europe's Elections Question - WSJ.com
Let's recognize that the term "austerity" as used and applied in most of Europe means "higher taxes" and, at best "modest changes to socialist and union-centric policies".
We need another term something encompassing the fact that socialist can't understand that it is the high-tax, anti-growth, pro-regulation, pro-union policies that are destroying employment opportunities in a free market and that government jobs cost far more than the value they return to society. If they at least returned their cost, then taxes to support them would be unnecessary.
Like Obama in the US and his Democrats, the socialists in Europe are like a family happily living on credit cards. At some point they reach a debt limit.
In addition to the debt limits, interest rates rise. Greece was the canary in the fiscal/economic coalmine of socialism. And, Greece's lessons have largely been ignored because socialists and unions don't see the natural result of their policies - all of which discourage hard work and excellence and instead encourage taking from those who do work, save and invest.
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