Recession is not Austerity...and in either case, we aren't leaving either in a hurry!

President Obama is on the trail again promoting his budget, which will, of course, not be approved even by the members of his own party that control the Senate.  Most interesting is the idea that somehow the President is going to buck the trend of austerity that the country has been gripped in over the length of his presidency.  

In case anyone was wondering, here is a definition of austerity:

Definition of austerity (n)

Bing Dictionary

• aus·ter·i·ty
• [ aw stérrətee ]

1. severity or plainness: severity of discipline, regime, expression, or design
2. economy measure: a saving, economy, or act of self-denial, especially in respect of something regarded as a luxury
3. enforced thrift: thrift imposed as government policy, with restricted access to or availability of consumer goods

I'm trying to figure out which of the definitions the President is using but for some reason I keep coming back to the Princess Bride quote.  "Austerity.  You keep saying that word.  I do not think it means what you think it means."  Severity of discipline in our financial spending:  not in this country.  A saving or act of self-denial, especially as regard a luxury:  an act of self-denial is not when you are forced to purchasing less luxuries because the economy stinks.  Enforced thrift:  maybe if we are talking health care, but I don't think that was what the President was pointing towards.

Here are some graphs showing the level of "austerity" the federal state and local government have been straining to achieve.

FEDERAL SPENDING

STATE SPENDING

LOCAL SPENDING

Obviously, not a lot of "austerity" going on anywhere at any level of government.  So if we aren't leaving the land of imaginary austerity, the President must have meant that we were leaving this prolonged stagnant economy.  Unfortunately for any of us, even that austere stimulus wasn't enough to save the day.