Not sure what kind of crazy economics course you fell for but I sure hope you get your money back !

BTW austerity WORKS and that was PROVEN in Canada and the FACTS prove it

http://www.americanthinker.com/blog/2013/07/macroeconomic_austerity_works.html

"How did these 1993-to-2006 austerity measures affect Canada's economic performance? During the high-spending period between 1980 and 1992, per capita GDP-PPP in constant dollars rose by only 12.4%. During the corresponding austerity interval from 1993 through 2006, constant-dollar per-capita GDP-PPP rose by 27.4%. A clear win for austerity"

"After a massive increase (over fourfold as a percentage of the economy) in Canada's net debt between 1980 and 1992, the austerity period saw the debt reduced from 64% of GDP in 1993 to only 26% in 2006. Similarly, after gross debt doubled between 1980 and 1992, austerity reduced it from 96% of GDP in 1993 to 70% in 2006.

In 1980, Canada's unemployment rate was 7.5%. After years of excessive government spending, by 1992, it was 11.2%. Along comes austerity, and the unemployment rate falls from 11.4% in 1993 to only 6.3% in 2006.

Macroeconomic austerity doesn't work? Absolute nonsense. During its austerity period, Canada's per capita government expenditures fell, its per capita GDP increased far more rapidly than during the prior period of rapid spending growth, its large deficits turned into large surpluses, its debt was dramatically reduced, and its unemployment rate fell like a rock. This is a lesson that not only the rest of the world needs to heed, but apparently also Canadian economists who have recently advised a faux conservative administration.





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