Austerity Foolishness | National Catholic Reporter

Austerity Foolishness | National Catholic Reporter by MSW. MGB: Greece, because it has the Euro and not its own currency, is not unlike small nations that peg to or use the dollar while being told to cut social services.  Of course, the difference is that Greece and Germany are in the same polity.  What is happening is akin to Kansas cutting taxes and going into a budget spiral, only to have the Federal Reserve raise interest rates on all banks in the state.  Unconscionable.  Greece and Germany should be under the same tax system and have a common debt.  Of course, this does not stop the stupidity of austerity that has ravaged both the EU and England - who self inflicted it by electing the Tories.  Nor did it stop the non-sense in the U.S. with a squester that is preventing growth, which will only come with MORE spending, not less.