All you are seeing with austerity, is the catch-22 of where the US is headed if it doesn't stop moving toward the big-spending, government-centric, highly regulated social economies of Europe. The catch is, European economies are spending way too much, they know it but cutting back hurts their economies. This is all because of how their economies have now become dependent on (even addicted to) government spending.

The US has rarely been there. One of it's secrets to it's success and prosperity is the strength of it's private sector and less reliance on government. The US economy should NOT be adversely effected by cuts in government spending. The possibility that it could, is a damning indictment of government policy that has made it dependent on government as well to the weak private sector that can't contribute to keep the economy strong.

If austerity doesn't work, it's due to the Socialistic make-up of an economy. The lesson should be; not to go there. Your argument is like saying cars don't work. Yes, they don't work, only if you neglect to put gas in the tank. You leave that part out.

The point YOU miss about the deficits is that, regardless how you want to compare it to GDP, they STILL have been $1 trillion plus ever since Obama took office, although Bush's TARP spending contributed to FY2009.