The Tea Party Was Right

All across the world and across the United States (with the exception of the Fed) austerity is the magic word of the year. This is not a surprise as the Tea Parties were formed in no small part to slow the vast growth of a fiscally unsustainable path for this country. As we can see, the chickens came home to roost over too much government debt a lot quicker then many people though. The collapse of Greece and the internal contradictions of the Socialist states of Europe are now forcing these governments to adopt policies that could be right out of a Tea Party platform.
Case in point, Spain:

MADRID (AP) -- Spain's finance minister has pleaded with lawmakers to vote in favor of emergency economic measures saying they are harsh but necessary to reduce the country's bloated deficit.The package, which includes a cut in civil servants' wages, will be voted on Thursday and approval is expected to be by possibly just one vote.Finance Minister Elena Salgado told Parliament ''the measures are painful but inevitable.''

It should be noted that the Zaptero government is as left wing as they get, after being catapulted into power following the successful terror attacks known as the Madrid bombings, they promptly maintained and expanded socialist policies until this year when the money ran out, now its austerity time!. Closer to home we have New Jersey on Chris Christie becoming something of a national sensation for cutting government, and even in California, Schwarzenegger has finally come around to proposing an austerity budget to force the hands of his opponents in the Democrat controlled legislature:

ALAMEDA, Calif. — California Gov. Arnold Schwarzenegger delivered his May budget proposal Friday afternoon, addressing a $17.9 billion deficit by proposing wholesale elimination of key social welfare programs, with no tax increases.Schwarzenegger projects the state will have $91.5 billion in general fund revenue in fiscal 2011, but faces a $17.9 billion shortfall, including a $7.7 billion deficit carried over from the current fiscal year. The administration uses a $19.1 billion deficit figure, after adding a $1.2 billion reserve.

State officials say California has adequate resources to retire the state’s $8.8 billion of outstanding revenue anticipation notes when they mature this month and next.Controller John Chiang warned lawmakers that their prompt action is needed to avoid a repeat of the state’s cash-flow problems last year, when the controller’s office issued some $2 billion in IOUs to lower priority creditors to preserve cash for creditors with higher legal standing, such as bondholders.

Closer to my home in New York, guess who said this:

He also spoke directly to New York’s powerful public employee unions, saying he would freeze salaries of state workers. And he said he opposed raising taxes.

He proposed capping state spending and limiting local property tax increases to no more than 2 percent annually.

If you clicked the link you will have realized that was Andrew Cuomo, scion of one of the most liberal dynasties in the United States. It testifies to the courage and wisdom of the original tea party movement that their ideas are now being incorporated into all sides of the political spectrum as a means to win elections. Not to bad for a group of people who were mocked and ridiculed and smeared in a most horrendous manner.