Posted 5 years ago on Sept. 27, 2012, 7:29 p.m. EST by TommyNYC
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Nobel Prize winning New Keynesian economist Joseph Stiglitz, who inspired the OWS slogan "We are the 99%": "The only thing that can be done is fiscal stimulus; spending more money."
But it's not just Keynesian economists who oppose austerity. According to famed left-anarchist philosopher and activist Noam Chomsky: "Austerity just makes matters worse. What is required is economic stimulus and Europe has the resources for that, which would allow countries to grow their way out of the situation and overcome the decline."
Marxian economist Professor Richard Wolff in a scathing criticism of Paul Ryan: "The austerity plan of the world's Ryans is simple. Cut government spending on social programs that help millions and use the money saved to instead guarantee government repayment of debt and to slow the growth of that debt.
If that means adding public employee layoffs to already high unemployment, so be it. If that means a long-term decline in the standards of living (stagnant real wages plus declining public services from government), so be it. If it polarizes society into extreme inequalities, OK."
More arguments against Ryan-austerity from Green Party presidential candidate Jill Stein: “Ryan's extreme budget ideas were rejected by Congress, including many of his own Republican colleagues,” said Stein. “Americans value Medicare and Social Security, and do not want to be the sacrificial lambs for deficit reduction
And another one by Ralph Nader:
Independent senator Bernie Sanders in opposition to austerity:
So, I conclude, this is what we must unify behind. After the election, and I hope that everyone here gets out the vote, this is what we push. Fiscal stimulus. Infrastructure spending. Jobs legislation. The public good. Whatever you want to call it.
Anything but austerity.