Austerity is a common theme in developed economies today as most governments struggle to take hold of runaway deficits and debt. Sadly it is a necessary pain well earned over the past 20 years of fiscally suicidal policies and behaviors. Britain was one of the first developed countries to start down this multi-year journey back toward saner budgets. This report looks at some of the real life impacts. Katie Barnfield went up to Manchester to look at how it is affecting that city. Here is a direct link.
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Right….as usual the great unwashed pay for the sins of the wealthy…..bail out the bond holders at the expense of the middle class….bloat the cow….harvest the cream….release the gas….rinse and repeat.
Compared to the US, the UK has a higher debt/GDP ratio.
Bizarre outlook after 100 years of Progressivism.