Austerity’s Children
Economists typically frame “fiscal adjustment” as an abstract and complex goal, though the issue boils down to deciding who will bear the brunt of measures to reduce the budget deficit. In America, that distributional choice has now been made: poor children must pay.
https://prosyn.org/l5yiIs3
WASHINGTON, DC – When economists discuss “fiscal adjustment,” they typically frame it as an abstract and complex goal. But the issue is actually simple: Who will bear the brunt of measures to reduce the budget deficit? Either taxes have to go up for some people, or spending must fall – or both. “Fiscal adjustment” is jargon; what austerity is always about is the distribution of income.