In the wake of the global recession, beginning with the financial crisis of 2008-2009, the British government of Prime Minister David Cameron took a different approach from the U.S. governments of George W. Bush and Barack Obama–eschewing massive government stimuli (that is, profligate spending) for the economy and instead focused on moderate belt tightening to reduce budget deficits accumulating into higher national debt. That British budget reductions, including 4.3 percent real cuts in defense spending since 2010, has paid off. The British economy has experienced seven consecutive quarters of growth, three percent growth last year, and low inflation. …read more
Source: The Huffington Post
