A new report by the non-partisan Congressional Budget Office reminds legislators that tax increases and spending cuts set to take effect automatically in January threaten job growth significantly in the coming year. But for the first time, CBO has analyzed (PDF) the economic consequences of specific provisions within the sequester. And it turns out the least harmful component of the coming fiscal consolidation is precisely what Democrats are demanding: the expiration of the Bush tax cuts for high earners.
So the best part of "austerity" is...the part that is not austerity at all but against the whole Republican way of "thinking" about life as opposed to actual life itself.
It's almost as if there's a track record or something...