Saturday, May 26, 2012

The UK Isn't Austere: Spending Has Increased To Record Levels

So reports the UK Telegraph here:


[T]he Office for National Statistics (ONS) revealed that the double-dip recession was even worse than feared. The economy shrank by 0.3pc in the first quarter of the year, the ONS said in its second estimates, rather than the 0.2pc initially thought. Government spending hit record levels in the three months to March in spite of the austerity drive, rising by 1.6pc to £81.5bn and delivering 0.4 percentage points of overall economic growth. However, the taxpayer-funded boost was not enough to offset weak activity in construction, trade and the financial sector.

Unfortunately for Great Britain, it has a leader who is more concerned with gay marriage, tax increases and diverting attention away from domestic failures.

Gee, kind of reminds one of none other than Barack Obama.

Hm.