links for 2010-03-29

  • That is why the three protagonists must resist the temptation simply to burnish their political lines. Severe cuts in public spending are inevitable; on the Micawber principle that more money is going out than is coming in, the result is misery for the public finances. It is incumbent on all three participants to do what, for political reasons, they might wish to avoid: to spell out in more detail how they intend to fix the hole.

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