Sunday, February 24, 2013


Good luck, UK...

An influential group of Conservative backbenchers is planning to use the downgrade to mount a major push for further tax and spending cuts in next month’s Budget, arguing this is the only way to stimulate the economy.


David Ruffley, a leading member of the group, said: “Some of us would like him to cut public spending even more in order to fund tax cuts to inject a fiscal stimulus into the UK economy at the Budget.”

The right mix of tax cuts/spending cuts could actually be mildly stimulative, though I doubt that's the mix the Tories have in mind. Tax cuts for rich people, blood-letting from the poors.