The left makes the necessary cuts when they are necessary for a country's survival. The neoliberal right makes cuts just for the sake of making cuts, in spite of common sense, because they are a bunch of stupid hacks blinded by their silly ideology. That is the difference, Miles.
You've hit the nail on the head. Similarly, the European Right believes that unemployment is a price worth paying for low inflation and low spending. It's not and it never works in the long-term.
If we can take anything from the recent economic troubles, it should be that these neo-liberal economic agendas, conceived in the 1980s by the right and semi-sustained by the left after its European successes in the 1990s, do not work.
