All right, not quite. But knowing how much heartburn Paul Krugman will suffer if he reads that headline makes it worthwhile.
I’ve noted before how Britain’s supposed fiscal austerity is nothing of the sort, consisting of tax increases and mere cuts to the rate of spending. In 2013, British Chancellor of the Exchequer George Osborne decided to try real spending cuts for a change, sending Europe’s financial establishment into a tizzy. Now the results are in, and Francis Menton surveys them in a delicious blog post: