What's on the Other Side of Austerity?

The mix of cut and tax isn’t working, according to economic indicators such as GDP, employment, and budget deficit accounting.  In response, elections have shifted power towards those espousing a “growth” platform.  What does that exactly mean?  Does it mean lower taxes?  More spending?  Increased deficits in the short term?  In my humble opinion, the answer is likely to be currency devaluation, inflation, and perhaps a rally in gold prices.