In response to:

Is Anybody Surprised that Krugman Was Wrong about U.K. Fiscal Policy?

geotay Wrote: Jan 24, 2013 4:43 PM
Actually, they are two of the more ignoble Nobel Laureates in recent decades.

Just like in the United States, politicians in the United Kingdom use the deceptive practice of “baseline budgeting” as part of fiscal policy.

This means the politicians can increase spending, but simultaneously claim they are cutting spending because the budget could have expanded at an even faster pace.

Sort of like saying your diet is successful because you’re only gaining two pounds a week rather...