Today’s Austerity Smackdown: US vs. UK

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This chart is making the rounds today, so I might as well join in the fun. It shows how well the U.S. economy has recovered from the recession compared to Great Britain. The Tory approach in Great Britain has famously been based on austerity measures, and it sure doesn’t seem to be working all that well. Karl Smith provides the caveats:

The UK has an infamous productivity puzzle, that has allowed it to add jobs even as GDP stalls. The UK is more closely tied to the crumbling Eurozone economy. The UK has seen its energy resources dwindle while the US has seen them explode. The United States has seen a good deal more austerity than its President would have liked.

All true, and these things point in different directions. That said, austerity doesn’t seem to be working in Britain and it’s not working in the rest of Europe either. So why are Republicans so hellbent on emulating them?

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We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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