"Fauxsterity” (faux + austerity) is a term to describe a “fake’ austerity. In a federal budget deal signed into law in August 2011, cuts in the federal budget were claimed, but some observers pointed out that the “cuts” were really reductions to automatic increases to the baseline budget.
The term “fauxsterity” has been cited in print on March 1, 2011, on May 10, 2011, and as the headline of a widely cited blog article on August 4, 2011.
A similar term is “fauxterity.”
Ace of Spades HQ
Hundreds Of Billions In Waste And Duplication Found In Federal Budget The Democrats Swear Can’t Be Touched Without Killing People Or Something
It’s our only hope.
Posted by: garrett at March 01, 2011 12:06 PM
Being A Democrat – You’re Doing It Wrong
By: Eli Tuesday May 10, 2011 6:01 pm
I wonder if he’ll be forced to run under the banner of the “New York For Cuomo” party in 2014, or if reverse-Robin-Hood fauxsterity will be the new Democratic normal by then.
May 10th, 2011 at 6:09 pm
Awesome word, El
I do expect markets to react very negatively on Monday though. #G20 #fauxsterity $$
Jun. 27 at 7:31 PM • via Twitter
theschnack: Dueling fauxsterity measures, debating whether to hike spending $1.7 or $2 Trillion by 2020? http://t.co/teCb3ie
5 days ago 1 similar tweet Highly Influential retweet
Fauxsterity Measures: US Sees Largest One-Day Debt Bump in History
By Doug Powers • August 4, 2011 12:25 PM
The age of austerity is upon us, except the pitch for this particular brand of “fiscal responsibility” comes across more more like an ad for a sale at a furniture store: “The more you spend the more you save!”
New York City • Banking/Finance/Insurance • Thursday, August 04, 2011 • Permalink
Well done Barry. Have you been watching the economic changes in Europe this week? The federal budget and the patterns you highlight here have begun to take shape in Europe and new measures are being promised to get things back on track.