What happened to all of the talk about austerity bringing prosperity? The worst part now is that some of the harshest cuts are only now kicking in, so things can and likely will get even worse. The Independent:
Superficially respectable growth figures disguise an economy that is stagnating, at best, or even contracting again, according to the latest data from the Office for National Statistics.Keep this in mind as the radical GOP tries to cut everything.
Although the economy formally grew by 0.5 per cent in the first quarter of 2011, in line with expectations, this was widely regarded by analysts as confirmation that the underlying recovery is fragile at best, and that the economy has escaped a relapse into a "double-dip" recession only by the narrowest of margins.
