Opponents of austerity are barking up the wrong tree

Whenever I see television news footage of young Greeks or Spaniards protesting against public spending cuts, or hear an eminent economist railing against austerity measures in Britain or the US, I confess I have to scratch my head.

I'm familiar enough with their reasoning. The young indignados feel bitterly short-changed, unfairly deprived of both jobs and a future by government cuts.

Meanwhile, the economists complain that cutting spending to reduce debt doesn't work. It ends up depressing output, so that debt rises, not falls, relative to gross domestic product.

via Business feed http://www.scmp.com/business/article/1101619/opponents-austerity-are-barking-wrong-tree