{"id":3538,"date":"2017-07-09T06:13:30","date_gmt":"2017-07-09T06:13:30","guid":{"rendered":"http:\/\/imjussayin.com\/blog\/?p=3538"},"modified":"2017-07-10T23:49:17","modified_gmt":"2017-07-10T23:49:17","slug":"austerity-deficit-balderdash","status":"publish","type":"post","link":"https:\/\/imjussayin.com\/blog\/austerity-deficit-balderdash\/","title":{"rendered":"Austerity What A Load Of B********"},"content":{"rendered":"<p><a href=\"https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-2-www.imjussayin.comblog.jpg\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"3543\" data-permalink=\"https:\/\/imjussayin.com\/blog\/austerity-deficit-balderdash\/austerity-2-www-imjussayin-comblog\/\" data-orig-file=\"https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-2-www.imjussayin.comblog.jpg?fit=600%2C430&amp;ssl=1\" data-orig-size=\"600,430\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1480516014&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"austerity 2 | www.imjussayin.com:blog\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-2-www.imjussayin.comblog.jpg?fit=600%2C430&amp;ssl=1\" class=\"alignnone wp-image-3543 size-full\" src=\"https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-2-www.imjussayin.comblog.jpg?resize=600%2C430\" alt=\"austerity cuts with a man back up in a corner with a saw | www.imjussayin.com\" width=\"600\" height=\"430\" srcset=\"https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-2-www.imjussayin.comblog.jpg?w=600&amp;ssl=1 600w, https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-2-www.imjussayin.comblog.jpg?resize=300%2C215&amp;ssl=1 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p>The government says that austerity a necessary\u00a0because\u00a0we must &#8216;live within our means.&#8217; Granted, cutting public services certainly sounds like a common sense approach to repaying the massive public debt. Err, I have a problem. <a href=\"http:\/\/www.ritholtz.com\/blog\/2010\/06\/word-origins-austerians\/\">Austerian<\/a> wisdom omits a key factor. The massive debt only accumulated because the government rescued banks, private businesses, with public money. So, to be clear, instead of letting the banks collapse the government borrowed money to bailout the banks. To pay the debt funds are diverted from the public services used by everyday people. So the public is paying twice and women thrice; For women\u00a0are left in more poverty. Austerity is a load of balderdash and as a concerned citizen, I know it must end. It is a core principle of <a href=\"https:\/\/en.wikipedia.org\/wiki\/Neoliberalism\">neoliberal<\/a> thinking which always sought to remove\u00a0government responsibility for citizens.<\/p>\n<h2>Austerity Hurts Women Most<\/h2>\n<p>There are winners with austerity but not everyday people or women. The public sector pay cap will affect men, but women are <a href=\"https:\/\/www.ons.gov.uk\/employmentandlabourmarket\/peopleinwork\">more likely to work in the sector<\/a>. Society has designated women as caregivers. So, it is they who unpaid, take up the slack when there are cuts to services like social care. It negatively impacts on their earning potential and future pensions.<\/p>\n<p>As carers <a href=\"http:\/\/oro.open.ac.uk\/4674\/\">women are at greater risk of poverty<\/a>. They are more reliant on tax credit and universal benefit to help their income. As the state reduces support, women become poorer. Single parents, 92% of whom are mothers, have seen their standard of living fall by \u00a39,000.<\/p>\n<h2><a href=\"https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-1-www.imjussayin.comblog.jpg\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"3539\" data-permalink=\"https:\/\/imjussayin.com\/blog\/austerity-deficit-balderdash\/austerity-1-www-imjussayin-comblog\/\" data-orig-file=\"https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-1-www.imjussayin.comblog.jpg?fit=450%2C300&amp;ssl=1\" data-orig-size=\"450,300\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"austerity 1 | www.imjussayin.com:blog\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-1-www.imjussayin.comblog.jpg?fit=450%2C300&amp;ssl=1\" class=\"alignnone wp-image-3539 size-full\" src=\"https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-1-www.imjussayin.comblog.jpg?resize=450%2C300\" alt=\"austerity piggybank with chain around it | www.imjussayin.com\" width=\"450\" height=\"300\" srcset=\"https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-1-www.imjussayin.comblog.jpg?w=450&amp;ssl=1 450w, https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-1-www.imjussayin.comblog.jpg?resize=300%2C200&amp;ssl=1 300w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/><\/a><\/h2>\n<h2>Austerity Doesn\u2019t Work<\/h2>\n<p>The pain and suffering of austerity are all around us. The rise of child poverty, food banks, homelessness and income stagnation. Austerity would not be worth it even if it worked. But it doesn\u2019t.<\/p>\n<p>In response to the financial crash, most governments increased spending and or cut taxes to stimulate the economy. But not Britain. It is no coincidence that our economy is not really growing.<\/p>\n<p>We have seen neoliberalism, the overarching ideology of austerity, applied in South Africa. There are now more black people living in poverty. In Pinochet\u2019s Chile, Margaret Thatcher\u2019s poster boy of neoliberalism, it collapsed. In Russia, it created a few ridiculously wealthy oligarchs. They are spending their money in London, artificially propping up our economy.<\/p>\n<h2>Austerity A Tory Tool<\/h2>\n<p>The Tories embrace austerity. Under its guise they have been able to employ the other fundamental principles of neoliberalism; shrink social benefits, privatise public services and deregulate. That is why they are out of step with western governments&#8217; standard approach to the financial crash. To admit spending money stimulates the economy would be self-defeating for them.<\/p>\n<p>At this point, I know some readers are fuming. I can hear that election slogan, \u2018money doesn\u2019t grow on trees.&#8217; But the modern banking system creates money faster than trees can grow. American Representative Ron Paul has observed <a href=\"https:\/\/youtu.be\/ylBvC9QLCL4?t=2m57s\">its creation out of thin air by institutions like the Federal Reserve<\/a>. The <a href=\"http:\/\/www.bankofengland.co.uk\/monetarypolicy\/pages\/qe\/default.aspx\">Bank of England creates new money<\/a> the same way.<\/p>\n<p><a href=\"https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-3-www.imjussayin.comblog.jpg\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"3540\" data-permalink=\"https:\/\/imjussayin.com\/blog\/austerity-deficit-balderdash\/austerity-3-www-imjussayin-comblog\/\" data-orig-file=\"https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-3-www.imjussayin.comblog.jpg?fit=450%2C300&amp;ssl=1\" data-orig-size=\"450,300\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"austerity 3 | www.imjussayin.com:blog\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-3-www.imjussayin.comblog.jpg?fit=450%2C300&amp;ssl=1\" class=\"alignnone wp-image-3540 size-full\" src=\"https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-3-www.imjussayin.comblog.jpg?resize=450%2C300\" alt=\"austerity fat piggy relaxing in a lot of money | www.imjussayin.com\" width=\"450\" height=\"300\" srcset=\"https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-3-www.imjussayin.comblog.jpg?w=450&amp;ssl=1 450w, https:\/\/i0.wp.com\/imjussayin.com\/blog\/wp-content\/uploads\/2017\/07\/austerity-3-www.imjussayin.comblog.jpg?resize=300%2C200&amp;ssl=1 300w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/><\/a><\/p>\n<p>The aim of austerity is to reduce the deficit, the gap between the government\u2019s spending, and what it gets from taxes. However, the deficit has grown. This government has borrowed more in 4 years (over \u00a3430bn) than Labour did in 13.<\/p>\n<p>What austerity has increased is inequality. The wealthy have escaped any penalty for financial wrongdoing and are getting richer. \u00a0Their lifestyle never wavered. \u00a0On the other hand, the rest of us are picking up the tab and stagnating. Women are getting markedly poorer. It\u2019s time for the government to rescue women, children and the disabled from poverty. \u00a0They also need to start\u00a0showing the public sector the respect they deserve. \u00a0Lifting the 1% pay cap is a good start.<\/p>\n<p><strong><span style=\"color: #ff6600;\">imjussayin<\/span><\/strong><\/p>\n<p><strong>Connect with me on <\/strong><a href=\"http:\/\/www.twitter.com\/imjussayin2\"><strong>Twitter<\/strong><\/a><\/p>\n<p><strong>Follow my blog on <\/strong><a href=\"https:\/\/www.bloglovin.com\/blogs\/imjussayincomblog-17449911\"><strong>Bloglovin<\/strong><\/a><strong>\u2019<\/strong><\/p>\n<p><strong>Editorial Policy<\/strong>:\u00a0Permission to use quotations from this article is granted subject to a full credit of the source and a direct link to the article on imjussayin.com.<\/p>\n<div class=\"likebtn_container\" style=\"\"><!-- LikeBtn.com BEGIN --><span class=\"likebtn-wrapper\"  data-identifier=\"post_3538\"  data-site_id=\"632a645f943ec93423ce055c\"  data-style=\"\"  data-unlike_allowed=\"\"  data-show_copyright=\"\"  data-item_url=\"https:\/\/imjussayin.com\/blog\/austerity-deficit-balderdash\/\"  data-item_title=\"Austerity What A Load Of B********\"  data-item_date=\"2017-07-09T06:13:30+00:00\"  data-engine=\"WordPress\"  data-plugin_v=\"2.6.59\"  data-prx=\"https:\/\/imjussayin.com\/blog\/wp-admin\/admin-ajax.php?action=likebtn_prx\"  data-event_handler=\"likebtn_eh\" ><\/span><!-- LikeBtn.com END --><\/div>","protected":false},"excerpt":{"rendered":"<p>The government says that austerity a necessary\u00a0because\u00a0we must &#8216;live within our means.&#8217; Granted, cutting public services certainly sounds like a common sense approach to repaying the massive public debt. Err, I have a problem. Austerian wisdom omits a key factor. The massive debt only accumulated because the government rescued banks, private businesses, with public money. [&hellip;]<\/p>\n<div class=\"likebtn_container\" style=\"\"><!-- LikeBtn.com BEGIN --><span class=\"likebtn-wrapper\"  data-identifier=\"post_3538\"  data-site_id=\"632a645f943ec93423ce055c\"  data-style=\"\"  data-unlike_allowed=\"\"  data-show_copyright=\"\"  data-item_url=\"https:\/\/imjussayin.com\/blog\/austerity-deficit-balderdash\/\"  data-item_title=\"Austerity What A Load Of B********\"  data-item_date=\"2017-07-09T06:13:30+00:00\"  data-engine=\"WordPress\"  data-plugin_v=\"2.6.59\"  data-prx=\"https:\/\/imjussayin.com\/blog\/wp-admin\/admin-ajax.php?action=likebtn_prx\"  data-event_handler=\"likebtn_eh\" ><\/span><!-- LikeBtn.com END --><\/div>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_341138297_341138297":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[216],"tags":[196,1025,1026,1027,20,1015,429,46],"class_list":["post-3538","post","type-post","status-publish","format-standard","hentry","category-government-politics","tag-austerity","tag-bank-bailout","tag-economics","tag-financial-crash","tag-imjussayin-com","tag-neoliberalism","tag-tories","tag-women"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Austerity What A Load Of B******** - imjussayin<\/title>\n<meta name=\"description\" content=\"Austerity is supposed to reduce the deficit, the gap between the government\u2019s spending, and what it gets from taxes. 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