These are the same "austerity measures" that right wing Republicans in Congress are salivating about and wanting to implement here to address America's economic malaise.
While I think Obama and the Democrats have pandered to and sucked up way too much to the Wall Street moneyed interests, and not done nearly enough to ease the economic suffering of working, middle-class Americans, the alternative (GOP austerity) will be nothing short of full blown, long term economic devastation to the country.
But don't take my word for it --- go ask the Greeks:
Tensions Rise in Greece as Austerity Measures Backfire
By Corinna Jessen in Athens
The austerity measures that were supposed to fix Greece's problems are dragging down the country's economy. Stores are closing, tax revenues are falling and unemployment has hit an unbelievable 70 percent in some places. Frustrated workers are threatening to strike back.
If you think shit is bad now -- just put Boehner and the Tea-baggers in charge of the government come November. Riots will be the least of our worries.