Austerity in Europe...

...is killing the stock market in America.  Alright, that was extremely hyperbolic. Actually, austerity in Europe is sending American markets lower today, but the real problem isn't the effect on American markets, the real problem is what forced austerity has done for the European economy, most notably, made things worse.

Despite the fact that we've let Europe experiment with forced austerity and fail, many American politicians are convinced that if we just stop spending money, we will burst through the chains of recession and the economy will grow at an otherworldly pace.  Evidence says otherwise, but evidence doesn't win elections, fear wins election and right now, people are afraid of America's debt.  In fact, people are so afraid that some of them even support measures that would cripple our economy - not raising the debt limit for example - as a way to rein in spending.

Nevermind that European austerity is hurting the American market, nevermind that European austerity is hurting the European economy, American austerity must be the solution to our economic woes.  Evidence is not important, ideology is, so while we watch European countries struggle with forced austerity we should wonder why we are still considering it when the economic recovery is fragile.

Sensible people are not considering it, but there seem to be fewer and fewer of them in politics nowadays.  Instead, with all the talk we've heard of slashing spending before the recession ends, we're looking at making things worse rather than better.  Europe is a great example of what not to do and yet too many want to follow her lead.

Perhaps we will wizen up.  Perhaps we will address the economy first and the deficit after.  Perhaps unicorns will fly.  Perhaps.

But until American politicians ditch the fear-mongering and deal with the facts I remain skeptical.  Unfortunately, for our country and our people, the suffering and results are all to real.