Long-time austerity is wise, but Europe should ease up
After the 2008 economic meltdown, both president Bush and President Obama chose to stimulate the US economy, arguing that it was worth it to increase debt in the short term to get the economy going again. Much of Europe did just opposite, tightening its belt, laying off government workers and dramatically scaling back government spending. Those policies have produced poor results in Europe. This weekend, voters in France, Greece and Germany soundly rejected politicians who have pushed through painful austerity measures.