For Austerity Sake
Over the past economic collapse the word austerity has surfaced and resurfaced continuously. I thought the word to mean excessive, large, or gaudy. As I learned what it actually means, I took to heart that not only should I know the meaning but all of the clients that lean on me for financial information.
Austerity often used by government is a position where a policy of deficit-cutting and lower government spending to include benefits and public spending is enacted.
This may be coupled with increasing taxes to take funds to pay off or reduce debt.
This sounds like a great plan to fix massive debts that are dragging the economy, jobs, and the confidence of America’s ability to pay our bills. The man on the street feels the pain of austerity when welfare, development projects, and other public programs are cut or eliminated. There could also be an increase in public transportation fees as well as taxes.
The reality that most of these austerity measures hit the common person much harder then the wealthy is unquestionable. Ask yourself
- Who pays more taxes pound for pound?
- Who regularly uses public transportation?
- Who stands in line at the welfare office?
- What neighborhoods increase in crime and theft during tuff economic times?
Anyone looking to neutralize this potential threat has several must do steps. Drilling austerity measures down to a personal level is essential to establishing a solid plan of attack.
Arm yourself with the proper tools to defend your ability to prosper now and in the future. Suggested Reading : My Austerity
Video footage of a global discussion Watch Here