"Unlike the US, where rampant 'stimulus' spending and deficits continue apace, the UK opted for 'austerity.' The country sharply cut its spending and raised taxes, in an attempt to get its fiscal house in order. Unfortunately, this immediately plunged the economy back into recession.
The US, meanwhile, kept its foot on the gas, racking up massive deficits and debts but also stimulating solid if unspectacular economic growth. The US economy, therefore, continues to grow. And at least for now, inflation is under control."
from Does The UK’s Lousy Economy Prove It? Were Paul Krugman And Keynes Right?
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