The real fairy tale is that austerity is going to happen at all.
The best way to boost the economy is to cut taxes, regulations and the size and cost of government. Government is the biggest hindrance to economic growth ever.
Taxes are at historic lows, even taking into account the latest adjustments. Where are the jobs we were promised if only the job creators were allowed to amass huge fortunes?
No, you can cut all taxes and regulations and you still can't compete with the communist Chinese labor rate of $2/day.
It's our trade policy that is the biggest hindrance to economic growth. We need to raise import tariffs and get American's back to work. With more employment comes more gov't tax revenues and fewer safety net outlays. That's the way to balance the budget.