60/60 #32

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Autumn of Discontent: Turmoil over Austerity Hits Spain and Greece - SPIEGEL ONLINE - News - International

If you're not sure what austerity is, look it up.

In economics, austerity refers to a policy of deficit-cutting by lowering spending via a reduction in the amount of benefits and public services provided.[1] Austerity policies are often used by governments to try to reduce their deficit spending[2]

It's what Mitt Romney's plan is for America. And he's right, it's dramatically different from Obama's approach. Today's statistic is 2, the number of countries in Europe that are currently learning the hard way how austerity works in practice. You get riots in the streets and it doesn't fix your economy. But if you think the US is different, vote Mitt.

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