Austerity and Low Wages will Lead to Years of Recession

[fasttense]

2. Austerity is just what Hoover implemented during the Great Depression

It didn't work then and it wont work now.

"Hoover believed in a balanced budget and not pumping government money into the economy. He believed in "rugged individualism" and relied on the individual, the churches and private charities, and the local and state governments to handle most of the economic help that was needed."

Read more: http://wiki.answers.com/Q/What_did_Herbert_Hoover_do_in_response_to_the_great_depression#ixzz2BRwcBXMv

Does this sound familiar? A balance budget, reliance on the individual, churches, charities, local and state governments.

This only worsen the Great Depression and now we are doing the same things again.