The British government announced this past week the steepest set of spending cuts in decades. They intend to cut departments budgets by close to twenty percent and eliminate five-hundred thousand jobs in the public sector, all in the hopes of healing the country's deficit problems. Many in London are highly critical of the move, but some analysts in the United States have begun to question whether or not it might be a good idea to do the same. The move would surely create outrage in the U.S., but it would appear that drastic actions might be needed to save the economy rather than the slow and steady strategy being used by Obama's administration. One thing to note, however, is the fact that Britain's economy is one-fifth the size of America's, meaning that the budget cuts that needing to be proposed on Capitol Hill would dwarf those implemented in Britain. The director of the Margaret Thatcher Center for Freedom at the conservative Heritage Foundation, Nile Gardiner says that "the Obama administration is showing no appetite whatsoever" in doing what the British are doing.
Experts have been noting that should Republicans regain Congressional dominance, they may be inspired by what the British are doing. The British cuts at this point look to about $130 billion from the budget by 2015. If the United States were to cut a similar percentage, the cuts would total about $450 billion. However, Gardiner estimated that in order for the cuts to be successful, they would need to total $650 million by 2015. Insane? Of course. But it just might be insane enough to work. Clearly the slow and steady route isn't working, so just cut the infected limb off all together. Problem solved. Actually, that sounded pretty stupid... And of course this will have about .0000001% chance of passing based on the majority of people working in the public sector.
SF Giants. 2010 National League Champs. World Series bound.
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