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Simple question for those of us not up to speed on the specifics: did spending get cut to less than revenue? or not? If not, does the debt continue with a concr
by ctdonath 13y ago
Simple question for those of us not up to speed on the specifics: did spending get cut to less than revenue? or not? If not, does the debt continue with a concrete plan to pay it off toward greater revenue? If no to both, it's not "austerity".
- nextw33k 13y agoNo, only the rate of spending has been cut. Outgoings still exceed income. However our deficit is shrinking faster than any other developed nation: http://www.telegraph.co.uk/finance/economics/10367430/IMF-Britains-deficit-to-shrink-at-fastest-rate-in-developed-world-in-2013.html http://www.telegraph.co.uk/finance/economics/10367430/IMF-Br... The impact on social mobility and the rich/poor divide has been completely ignored. What's the point of growth if it doesn't benefit everybody?