Baxendale on Deficits
Toby Baxendale takes on Sir Samuel Brittan to explain that deficit spending creates no new jobs or wealth.
And by the way:
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Toby Baxendale takes on Sir Samuel Brittan to explain that deficit spending creates no new jobs or wealth.
And by the way:
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Comments (2)
Ben Ranson
The chart would make more sense if the scale (millions of dollars) were logarithmic.
Published: October 5, 2009 9:40 AM
Ohhh Henry
I notice that these Brits are talking about "benefit simplification", which is some kind of attempt to streamline their welfare state. I was interested to learn while listening to some audiobook lectures from The Teaching Company on the history of the Tudors, that the grand-pappy of the British welfare state was good old Henry VIII. Having destroyed the monastic system in England in order to steal its property and income, he also destroyed the existing (private) social safety net of poor relief, hospitals and schools. It was necessary for Henry to create new, government-run programs in their place and they've been trying to "streamline" the welfare state ever since (which seems to be a code word for, discover the correct formula to accelerate off the edge of the cliff as quickly and smoothly as possible).
Published: October 5, 2009 12:13 PM