Austerity In UK Is Ideology Masking as Economic Policy

This editorial is pretty harsh on the attempt at expansive austerity in the UK. The confidence fairy concept behind the government's policy has been shown to be a myth. Ideology is no substitute for economic reality. The debt to GDP ratio only grows as GDP falls in response to cuts in spending. The UK is not alone in preferring mythology to economic reality. The ideology behind the strategy has support where it counts in many countries. Its really part of the attack on the welfare state.