On 2010-10-22, at 9:59 AM, Wojtek S wrote:
> Doug: "Even the neolibs would be very uncomfortable with unemployment
> stuck around 10% - not to mention drifting higher."
>
> [WS:] So why are they pushing for policies that will have that
> effect?
There is a consensus around cutting healthcare and retirement benefits and other forms of social spending, and to some degree cutting the associated public sector workforce. That's the meaning ascribed to "austerity". But there is not a consensus, nor even a strong current of opinion, so far as I can tell, to have the overall unemployment rate move higher. My impression is that most policymakers and the corps want a more robust recovery characterized by rising employment and consumer spending.