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Finance & economics | Austerity SPOT THE DIFFERENCE, PART TWO IT IS HARD TO CUT PUBLIC SPENDING By Buttonwood TAKE two governments. One has increased spending by 31.8% since 2007 (in
nominal terms) and the other has increased it by 29.3%. Which one has followed a Keynesian stimulus approach since the financial crisis broke and which one has committed itself to austerity?
Well, the former is America and the latter is Britain.
