Turning Wisconsin into the New Greece
Good comparisons made by Lee Saunders, WI AFSCME President:
http://www.huffingtonpost.com/lee-a-saunders/scott-walker-austerity_b_3326111.html?utm_hp_ref=business&ir=Business
Austerity has been nothing short of a disaster for Greece. Rather than encourage growth and produce jobs, it has left the Greek economy dangling on a ledge, threatening to prolong the recession and sending unemployment skyrocketing. While the debt-crisis to this day remains practically unaltered, unemployment rose like a meteor, climbing from 8.9 percent in January of 2009 to 27.2 percent in January of 2013....
....Governor Walker then lavished tax breaks on his friends, the corporations and wealthy who funded his election. What better way to pay them back for all their campaign contributions than to cut taxes on corporations and the wealthy by $2.3 billion over two years, forcing the burden of austerity on the Badger State's working middle class.
When the federal government offered a helping hand, Walker turned back billions in funding for Badger Care and the state's rail systems. Nothing but austerity could produce growth, he claimed.
But in Wisconsin, as in Greece, austerity did nothing to bring about the changes promised. In Greece, unemployment rocketed an unfathomable 18.3 percent in a span of four years. In Wisconsin, the results are similar. In 2010, Wisconsin gained more than 24,000 jobs. A year later, under Walker, it led the nation in lost jobs.