Austerity is implemented when government's reach the point where the consequences of fiscal irresponsibility catch up with them. The problem is they initiate private sector austerity in the form of tax increases and reductions in programs people have become dependent upon. Voters have learned it's easier to vote for their living than work for their living, so politicians promising an end to austerity get elected and the financial irresponsibility continues. What's really needed is public sector austerity in the form of spending cuts and a reduction in debt.
Submitted by Virtual Newsroom