Re “Scary waters” (Op-ed, April 30): John E. Sununu suggests that we can cut our way to prosperity and that only austerity can solve our long-term budget problems. Austerity hasn’t been working out too well for the Europeans, and would cause our economy to drop even further. If people’s jobs are cut, demand will slacken, and our recession will deepen. Our economy needs more help, not a misguided focus on balancing the budget in the short term.
When we borrow to buy a house or car, or make needed upgrades to our home, we are not just borrowing money today to improve our living conditions. We are also investing in our future.
Advocates of austerity always sees government spending as a negative cost instead of a way to make our future better. If we acted as the former US senator from New Hampshire advocates, our family would not have bought a hybrid car, but instead stayed with our 17-year-old car and spent more on a deteriorating asset.
We need to stop looking at spending as being detrimental to our country, and start viewing it as a way to invest in our people and society. To do otherwise is to condemn the vast majority of our populace to a life of struggle and lack of innovation.
It seems that many Republicans are more than happy to inflict pain on the lower echelons of society to ensure that they don’t have to suffer. They may be surprised to discover that when their customers disappear, so will the elites’ wealth.