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Tuesday, April 14, 2015

Bill Mitchell — Latest military expenditure data reveals the hypocrisy of austerity


Austerity applies to everything but military spending. EZ nations are required to keep their fiscal deficits to within 3% of GDP, while NATO policy requires spending 2% of GDP on the military. Austerity is directed at social spending instead.

Bill Mitchell – billy blog
Latest military expenditure data reveals the hypocrisy of austerity
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
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4 comments:

  1. mike normanApril 14, 2015 at 2:58 PM

    Same here in the U.S. Congress is authorizing an increase in the military budget, but it will come at the expense of other, discretionary spending programs, which will see cuts in order to "pay" for the defense spending increases.

    ReplyDelete
  2. Tom HickeyApril 14, 2015 at 3:09 PM

    It's the neoliberal way.

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  3. IgnacioApril 14, 2015 at 7:05 PM

    MMT is always available when it comes to the MIC and FIRE.

    bunch of buffoons, these politicians.

    ReplyDelete
  4. Peter PanApril 14, 2015 at 8:19 PM

    It takes a big stick to keep the peasants in line.

    ReplyDelete