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So, Great Britain, how's that austerity program working out for you? -- (link)

Posted by znufrii Apr 25 '12, 10:22

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http://www.nytimes.com/2012/04/26/business/global/british-economy-slips-back-into-recession.html (www.nytimes.com)

Responses:

It's pretty much a given that will happen. It's the flaw in all the "cut spending" rhetoric here. Now is really not the time to do it. - pmb Apr 25, 10:41 10
- I am shocked *shocked* that reducing economic activity leads to reduced economic activity -- nm - con_carne Apr 25, 10:46 2
  - They just didn't cut enough. Then it would have worked! -- nm - Don Homer Apr 25, 10:56 1
    - businees confidence in the economy will spur investment growth any time now... -- nm - znufrii Apr 25, 11:09
- One problem with this is that there's a lot less incentive to do this when the economy is growing. "Hey, the good times are going to last forever!" + - Roger More Apr 25, 10:46 6
  - [deleted]
  - Hence the folly of the Bush tax cuts. We were running a surplus. Able to pay down some of our debt, but Bush view was we should give that money back - pmb Apr 25, 10:59
  - Deficits don't matter. Reagan proved that -- nm - Dick Cheney Apr 25, 10:48 3
    - In a way they don't, because by the time they do matter you're out of office and can blame it on your successors. -- nm - Roger More Apr 25, 10:53 2
      - politically, yes, but they will matter to you unless you move away because deficits = deferred taxes -- nm - zork Apr 25, 10:58 1
        
        That's my point :) It becomes someone else's problem. -- nm - Roger More Apr 25, 11:01
I know I could google but smart people here don't talk like smart people. What is an austerity program? -- nm - oblique Apr 25, 10:34 5
- antikeynesianism. -- nm - mafic Apr 25, 10:43 1
  - Obama haters? -- nm - loosilu Apr 25, 10:44
- [deleted]
- Belt tightening. -- nm - Mop (197 lbs) Apr 25, 10:35
- Austerity basically means trying to solve economic problems by cutting spending. In this case, government spending. -- nm - mara Apr 25, 10:34
In case you missed it, great article on Italy and their economic and social troubles and their potential impact on the world economy -- (link) - Beaker Apr 25, 10:25 [Backboard] 3
- oooh, thx -- nm - znufrii Apr 25, 10:40 2
  - (love the guy who wrote it...who is also Norm MacDonald's brother if memory serves me) -- nm - Beaker Apr 25, 10:41 1
    - Neil Macdonald looks weird with a beard. -- nm - Mop (197 lbs) Apr 25, 10:44
I know there are more important things but I'm sad what's happening to the RN because of this. -- nm - Mel Profit Apr 25, 10:24

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