What is Austerity?

Austerity. It’s been touted by politicians across the world as the “solution” to the economic crisis, usually without any explanation. It’s something we’re told we must submit to and accept as part of our “sacrifice”. But what is it, really?

It’s a code word, used to deceive us. Austerity measures, say our leaders, will “stabilize the economy”. Many of us, in our desperation, take them at their word. That’s the power of the code.

Hiding underneath the code, however, are cuts. HUGE cuts. Cuts to benefits, public services, and public sector jobs. Usually cuts to billionaire and corporate taxes as well, in the name of “job creation”.

That’s right: the very people who caused the economic crisis—the very people who killed jobs and created huge deficits by refusing to pay taxes on their Billions—are the ones who benefit from “austerity”. The only ones. Our suffering—the suffering of the 99%--only deepens.

So what is austerity? Citizens being forced by the government to repay the debts of their oppressors.