The Brits are alright
October 21, 2010 2 Comments
Not to quote The Who, but yes indeed the Brits ARE alright. It takes a container ship full of brass balls to even propose the austerity measures that were just laid forth in order for them to regain some semblance of spending control, and they have done it. No more of Gordon Brown’s “high speed internet for one and all” measures during an economic downturn; no, they took the machete and cut right to the bone in order to right the ship.
My hat is definitely off to you guys, as well as to the wording of the article.
Here are some of the juicy bits:
The sweeping cuts in spending and entitlements far exceed anything contemplated in the US where Barack Obama, the president, has proposed only a three-year freeze on discretionary spending and Congress is still debating whether to extend tax cuts for the wealthy.
Damn, THAT hit nice and hard. The follow-up punch?
Similar cuts in the US would require a cut in public spending of about $650bn, equal to the projected cost of Medicare in 2015.
Does it burn yet?
I tip my hat to you guys and please, lift that chin up high and CHALLENGE the other world powers to follow in your example. It is nice to see the British stiff upper lip come back to the party.
UPDATE: Sorry about the dead link over at Fiscal Times, but this article over at USA Today pretty much hits the same marks, but with less awesome snark.