fauxsterity
government policies that consist of an increase in spending, taxes or both. meant to boost an economy in recession, it usually ends up depressing it even more.
it’s the opposite of austerity, i.e. government policies that consist of a decrease in spending and taxes. such policies end up recessions much quicker.
herbert hoover and franklin roosevelt applied fauxsterity measures by m-ssively increasing spending and taxes, transforming a recession into the great depression.
in contrast, warren harding applied austerity measures by cutting spending and taxes, and the recession was over in less than two years.
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