Conservative Party Budget Slashing in Britain

I have always sort of liked David Cameron, even if he is a Conservative. But this wild budgetary slashing of his is going to cause a major disaster.

Ministerial budgets have been reduced by an average of 19 percent. Almost half a million public sector jobs will disappear over the next four years. The military is being cut significantly. State expenditures will plunge by 83 billion pounds (€94 billion, $131 billion), and taxes will increase by 29 billion pounds (€32 billion, $45 billion). The retirement age is also set to rise.

It wasn't planned, it just sort of happened that in college and graduate school I happened to take almost enough economics courses that this almost could have been my major. Economists know more about how national economies work than the average undereducated Joe Plumber thinks. Economics, like political science, is greatly affected by people's attitudes, which makes the dismal science a particularly difficult field of study.

I can just about guarantee you that the Cameron cuts are a solid prescription for a massive and painful recession in England, maybe something far worse than that. And their economy is big enough that this might he contagious too.

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