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Hopefully it works a little better than the "spend like there's no tomorrow" approach tried in Greece, Spain...etc.
The English economic policy is going to be painful because there is nothing strong enough to drive growth in England.
The economic policies of Spain and Greece didn't work simply because their economies are not strong enough in terms of having an established industrial base or strong enough consumption to grow their economy.
There is no one single one size fits all solution to every economic problem.
The economy of the United States would be much worse off today without the stimulus program enacted by President Barack Obama. In fact, an argument could be made that the stimulus should have been larger.
Get the economy growing FIRST then address the budget deficit issues.
Actually it was TARP that saved the Banks and Fed QE 1 and 2 that really helped the economy by injecting liquidity. The stimulus never was a infrastructure program creating huge number of jobs and failed in its basic mission to hold down unemployment badly.We have seen more confidence and improvement since mid terms when Obama policyy shifts were stopped;really.
Actuallly if it were done before the crisis hit like the cuts in the 90's in German;perhaps it wouldn't have been needed to stop runaway spending in the first place.But the cuts will just stop growt of deabt not cure the uncompetitive policies.They have the same problems that caused the collapse of the US automakers ;uncompetitiveness.We will be having to face paying the price for our deficit spending soon enough.
I didn't see anything in the article that pointed to "austerity" as the reason for the continued contraction of the British economy.
Well, the writer of the article assumed the readers would have a basic knowledge of the Cameron policies put into effect 2 yrs ago. Policies that pretty much mirror the Ryan plan being touted by the GOP here. You may want to look into that and then look at the article.
Well, the writer of the article assumed the readers would have a basic knowledge of the Cameron policies put into effect 2 yrs ago. Policies that pretty much mirror the Ryan plan being touted by the GOP here. You may want to look into that and then look at the article.
I think you're reaching. If the Cameron policies of the past were so disastrous, then the writer would have properly laid blame on those policies with data to back it up. Similar to the blame that is put on George W. Bush on a regular and recurring basis.
Newsflash, it was the pre-austerity spending which precipitated the economic problems.
The US will become Greece, not because of austerity but because of the complete failure of a prolonged Keyensian economic application of policy.
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