Austerity:
"In economics austerity is a set of policies with the aim of reducing government budget deficits. Austerity policies may include spending cuts, tac increases, or a mixture of both."
- Austerity policies generally increase unemployment in the short run
- Reduces jobs in the public or private sector (or both)
- Tax increases reduce household disposable income and consumption
- Government spending contributes to gross domestic products
- Reducing spending will produce more debts
- Debt is a burden to this country and its citizens
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