Data Show That Republicans’ European Style Austerity Policies Lead to High Unemployment

charts-austerity-effect-on-employment

Whether it was based on their adherence to a failed economic ideology or on their craven desire to see Pres. Obama fail at any cost, Republicans have reacted to the economic collapse by relentlessly pursuing a European-style austerity approach to economic recovery.

As the chart on the left shows, one result of this approach is thousands of job losses in the public sector. These losses have had the financial effect of forcing thousands of families into foreclosure and bankruptcy and, in many cases, requiring them to seek assistance from government programs like Welfare and food stamps.

As the chart on the right shows, the Republicans’ austerity model is not the norm when compared with actions taken in past recessions.

With Europe teetering on the edge of another recession as a direct result of pursuing the same austerity policies as the Republicans, Pres. Obama has called for infrastructure spending and the hiring of new first responders and educators.

Mitt Romney disagreed, of course, saying, “Did [Pres. Obama] not get the message of Wisconsin? The American people did. It’s time for us to cut back on government and help the American people.”

Update: Link citations for the charts, which were inadvertently omitted, have been added. Thanks, John Manning, for prompting the correction.

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