Negative Interest

More on the UK economy

leave a comment »

Following up on yesterday’s post, here’s another comparison of growth in the US and UK. Via ThinkProgress, here’s Martin Sullivan at Tax.com:

Republicans constantly remind us that the Obama stimulus–the American Recovery and Reinvestment Act of 2009–did not work. They voted against it. In the United Kingdom the government is led by Conservative Prime Minister David Cameron. His government did not adopt stimulus. Instead it boldly enacted an economic program that cut spending and raised taxes. The chart below shows the results and compares it to the U.S. experience. After three and a half years, U.S. GDP is just about returning to the pre-recession peak. That’s awful. But it s far better than the U.K. where GDP is still five percent ($750 billion in US terms) below its pre-recession peak.

 

Advertisements

Written by negativeinterest

October 28, 2011 at 7:46 pm

Posted in Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: