Wednesday, 23 May 2012
Jonathan Jones blogs that Ed Balls has got Obama's spending plans completely wrong. The shadow Chancellor says that George Osborne should look to the US President for inspiration, but it seems he already is. UK government spending has fallen by an almost identical 0.9 per cent in real terms from 2010/11 to 2011/12. And it’s projected to fall a further 0.5 per cent in 2012/13, compared to Obama’s 2.6 per cent. So if Balls thinks Osborne should be more like Obama, he’s really advocating faster spending cuts. But I'm sure someone's been warning against going too far, too fast... probably some muttering idiot.