"There's class warfare, all right, but it's my class, the rich class, that's making war, and we're winning." -- Warren Buffett
When I hear the word austerity, I think of something else: class warfare.
It is not really about budget deficits or government debt; it is about cutting workers' wages, taxes, social programs and environmental regulations. And, last but not least, it is about selling off the commons -- our public goods like hydro, hospitals, schools and roads, often in the form of public-private partnerships.
This is done all in the interests of corporate profits, regardless of the impact on workers, citizens and the environment.