I saw in the paper today that unemployment in the Eurozone just hit a record 11.4%. Many of these are countries that have employed the austerity measures the Right keeps salivating over (which reminds me of the old joke "Oops! I cut it again and it's still too short!").
Flip across the ocean and our own employment numbers look pretty good in comparison. Sure, we're at 8.3%, but more than 3% lower than it now is across the Atlantic.
Just think how good our numbers would be if we hadn't had the austerity-driven orgy of public sector layoffs, and all those public sector workers were employed...and buying durable goods and houses...and taking vacations...and taking the spouse and kids out to dinner and a movie...
You know, stimulating the economy.