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Britain Cuts, America Spends

"American conservatives complain about government spending and then they continue to expand government (see: Reagan defense spending, Bush II). British conservatives complain about government spending and then they actually slash spending (see: this plan to eliminate half a million government jobs in four years). ... Let us praise David Cameron for having the courage of his convictions, but are those convictions any good? Does it make sense for Great Britain to pursue aggressive austerity at a time when interest rates are this low? ... First, this provides something historically unique: an international comparison between similarly sick economies trying to cure themselves with opposite treatments."
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