A plan to reign in out our spiralling deficit and national debt.
Why do it?
Because without this or something like it we are up $h1t creek royally (paddle optional).
Should you be happy about it?
If you are a masochist then yes, if you are a sadist then perhaps, otherwise no good news – except that with any luck we get economic growth back and sort out our mess once and for all. The big failure is the absence of a pain-plan for the bank, the taxpayers got one minus any anaesthetic, financial institutions once again (as always) are off Scott free.
GDP expected back on moderate increase this year due to strong export growth of 6% in real terms (real: considering inflation/deflation so +2% in a -4% deflationary environment = 6%).
Numbers losing jobs is slowing down – in Govt. speak they call this ‘stabilization of the labour market’. Deleveraging (paying off money) and high savings are causing a drop in …