And austerity in the UK has largely been rhetoric. The promised overall cuts in public spending really haven't happened ........
The austerity-lite we have had seems to me to be the worst combination.
I agree with this completely, and I wonder if this is due to the Lib Dem influence within the coalition. As I think I hinted at somewhere earlier, we really haven't done austerity deeply enough for my taste. Spending cuts to date have been half-hearted, to say the least.