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| 65 views | www.independent.co.uk
During a recession, ordinary consumers quite sensibly cut back and spend less. But if the Government does the same, it means nobody is spending. This is bad enough for all the people who suffer immediately: the swelling army of the unemployed, the repossessed, the abandoned. But it turns out that it makes its original goal – paying off the debt – impossible too. As the Nobel Prize-winning economist Joseph Stiglitz explains: "If you introduce austerity measures, the amount you can raise in tax falls, and welfare payments go up – so you don't have enough money to pay your debts anyway."
wait, did I read that right, are the government actually cutting JSA by £6.50 a week?! That's fucking barking!