Sunday, March 24, 2013

Osborne's folly — get rid of automatic stabilizers to control deficits

It’s impossible to arrive at the right treatment if your diagnosis is itself pathologically crazy. Starting in a few years’ time, [George Osborne] wants to get rid of AME [floating section of budget], or rather to create a new management framework that permits of setting a cash limit on it, and Ed Conway, as a good Very Serious Person and News International employee*, has already started with the talking points – note the title of his blog post. “Uncontrolled spending” anyone?
A Fistful Of Euros
The End of the Automatic Stabilisers
Alex Harrowell
(h/t Kevin Fathi via email)

Harrowell correctly calls this "pathologically crazy."


Anonymous said...

What does my dream mean, Joseph?

Pharaoh, your dream means that there will be seven years of plenty and prosperity, followed by seven years of drought, death, and despair.

What should I do, Joseph?

Let'em starve.

NeilW said...

Fortunately he won't be in the job then.

However the idea still needs squashing with extreme prejudice.