The looming budget cuts coming via the sequester are a kind of de-facto austerity. Worldview takes a look at how this American form of austerity compares to similar programs put in place across Europe, from the U.K. to Italy. Many economists have blamed these programs for Europe's continued financial woes. Could the sequester damage our economy in a similar way? Financial Times columnist Gideon Rachman joins Worldview to give his take.