Austerity applies to everything but military spending. EZ nations are required to keep their fiscal deficits to within 3% of GDP, while NATO policy requires spending 2% of GDP on the military. Austerity is directed at social spending instead. Bill Mitchell – billy blog
Latest military expenditure data reveals the hypocrisy of austerity Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia