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rayfaxAusterity will never happen in the U.S.When people are asked if they are in favor of austerity, the majority of people are for it.However, when it comes to their own austerity, it is a different story.The Municipal workers say "not us", the Teachers say "not us", the Industrial Workers say "not us", the retired say, "not us".The only way it will take place is that it will be imposed on the population either by a Depression, or rampant Inflation.For years, the people of the U.S. are used to being bailed out by Government debt, and know no different. I'm afraid they will have to learn their lesson the hard way.
I worry that you are correct. GLTY