An American View of Britain's Spending Cuts

"From America, the Cuts Do Not Look Too Drastic," Yorkshire Post, October 29, 2010. Not available on the Yorkshire Post site due to technical issues. "In short, every Labour government since 1945 has run afoul of the skepticism of the markets. But yet, according to the left, there is never a good time to spend less. When the economy is up, it’s time to spread the wealth by spending more on the social services. When the economy is down, cutting spending will drive the nation into a depression and inflict untold horrors upon the poor. If that’s true, then the poor really must have been suffering under Labour, because Osborne’s plan is to reduce spending to the level it was at in 2007. In anything other than the shortest of terms, that will not be enough. Like the U.S., Britain has an aging population, and its entitlement programs are massively indebted. Saving billions of pounds now will not pay for trillions of pounds worth of benefits in the coming decades."

UK Cuts, Should Have Cut More

The U.K. Budget Cuts: Lessons for the United States, Heritage Foundation WebMemo #3043, with Nile Gardiner and J.D. Foster, October 26, 2010. "The British cuts will be closely watched by policymakers in the United States, who are keen to address the bloated budget deficit on this side of the Atlantic. And with good reason: Public spending in the U.S. has ballooned in recent years, and America is heading for a rude awakening of Greek-style proportions unless it reverses course—and rapidly. But for several reasons, the U.K. cuts cannot simply be used as a blanket role model for the U.S. to follow."

When Cameron Came to DC

PM Shines But Should Have Spoken Out On Fiscal Divide, Yorkshire Post, July 22, 2010. "AT least David Cameron's visit wasn't a fiasco. When Gordon Brown came to Washington last year, it was all too obvious that the US administration in general, and Barack Obama in particular, regarded him as a negligible figure."

Osborne's Doing Better Than Obama

Osborne Has A Long Way To Go, But At Least He’s Started, Yorkshire Post, June 30, 2010. "According to the Left, there is never a good day to cut government spending. When the economy and tax revenues are growing, the Left wants to spend more because it can. When the economy is stagnant and tax revenues are shrinking, the Left argues it has no choice but to spend more, in order to cushion the blow. The result is that progressive governments transfer money from savers to spenders, from the productive economy to the unproductive state, and from the unborn to the living. For progressive governments, the economy is a goose that will keep on laying golden eggs, no matter what they do to it."

If At First You Don't Succeed . . . .

The Most Active Recovery Act Season Yet!, Heritage Foundation Foundry, June 18, 2010. "As Mike Allen of Politico reports, Vice President Joe Biden has kicked off what the Obama Administration calls its “Recovery Summer.” According to senior adviser David Axelrod, “This summer will be the most active Recovery Act season yet.” It sounds like Axelrod has never heard the popular saying about what to do when you’re in a hole: stop digging."

Labour's Biggest Failure and Cameron's Challenge

Why Cameron Needs That Something Special to Get Britain Back On Its Feet, Yorkshire Post, June 1, 2010. "David Cameron has a big job ahead of him. This week, the Organisation for Economic Co-Operation and Development said it again: with the exception of Ireland, the outlook for Britain's public finances is the worst in the industrialised world."

What the Euro Crisis Means for State Legitimacy

The Euro and Euro-Legitimacy, Contentions, May 28, 2010. "Ambrose Evans-Pritchard in the Telegraph and Francis Cianfrocca in the New Ledger have must-read analyses of the Euro crisis. Evans-Pritchard’s essay resists easy summary, but it makes the broad and depressing point that, in Europe, the left has offered a more persuasive analysis of the crisis than the center-right."

Britain's Skint. Are We Next?

"I’m Afraid to Tell You There’s No Money Left," Heritage Foundation Foundry, May 19, 2010. "When Britain’s new Chief Secretary to the Treasury, David Laws, walked into his office last week, he found a letter from his predecessor, Liam Byrne. Laws assumed it contained useful advice. But when he opened the envelope, he found that the letter – which he characterized as “honest but slightly less helpful” than he had expected – had only a single line . . ."

When New Labour's Luck Ran Out

New Labour Was Lucky, Then the Luck Ran Out, Foxnews.com, May 14, 2010. "The only problem with relying on luck is that, sooner or later, it runs out. And that, looking back, sums up much of New Labour’s time in power."

What America Thinks (If Anything) About Britain's Election

America Shies Away from Britain’s Woes, Yorkshire Post, May 7, 2010. "By and large, Americans are not much interested in foreign elections. Britain has always been the exception that proves the rule. That's partly because Britons and Americans speak the same language – or so Americans believe. But, of course, the Canadians and the Australians speak English, and their elections pass by quietly in the U.S."

If At First You Don't Succeed, Vote, Vote Again

Vote Until You Get It Right: Ireland and the E.U., Redux, New Ledger, October 1, 2009. "The European Union Constitution, now gussied up as the Lisbon Treaty, is a remarkable document. Napoleon famously remarked that constitutions should be short and obscure. On that count, the Constitution scores one out of two: it is not short, but it is definitely obscure. What Napoleon curiously failed to appreciate was that length, if carried on for long enough, has an obscurity all its own. At 246 pages in its original form, and a svelte 248 pages as the Lisbon Treaty, the Constitution achieves a comprehensive triumph over comprehensibility."

The IMF and OECD on Britain's Finances

Britain's Financial Quagmire, Heritage Foundation Foundry, July 21, 2009. "The International Monetary Fund has just published its annual “Staff Report” on Britain’s economy. It makes for grim reading. The IMF projects that Britain’s national debt will grow from 43% of GDP in 2007/08 to 73% of GDP in 2009/10. Its budget deficit in 2007/08 was 2.4% of GDP. By 2009/10, it will be 12.8%. And even those projections, though more pessimistic than the government’s widely-panned forecasts, may be too optimistic: the most recent public borrowing figures show that the pace of borrowing is accelerating as revenues fall. All due to the recession, you say? Not so, say both the government and the IMF . . . ."

Why I'm Cynical About Big Government

G8: Summits, Cynicism, and the Activist State, New Ledger, July 10, 2009. "The Group of Eight summit that closes on Friday is being hosted by Italy in L’Aquila. The summit was to have been held in La Maddalena, on Sardinia, but the venue was shifted after an earthquake hit L’Aquila in April as a “show of solidarity” with the victims. The move sums up the politics of gesture that these all too frequent summits embody. This one comes only two months after the G-20 meeting in London, and two months before the next G-20 summit in Pittsburgh, which will be the third such assembly in a year. One summit is an adventure; two are routine. After that, it’s publicity by hyperactivity, and activity as a substitute for achievement."

Financial Myopia from Finland

Why Europe Fears 'Tax Competition,' Heritage Foundation Foundry, June 29, 2009. "Back in April, after the G20 Summit, we at Heritage warned that the Summit’s attack on tax havens was, at best, an irrelevancy. At worst, it was “the start of a broader campaign to find new sources of money to tax and stigmatize as international wrongdoers states that, as an expression of their national sovereignty, have chosen to have lower taxes.” The idea that states that have lower taxes are committing a crime could not be more wrong. These states are using their political freedom to promote economic freedom. They are benefactors, not malefactors."

Brown's and Obama's Economics

Brown-onomics?, Contentions, May 29, 2009.

Is Britain Part of the 'Anglo-Saxon' Model?

The Anglo-Saxon Model in a Hole, Contentions, May 16, 2009.

It Was the Government Wot (Mostly) Done It

The IEA on the Financial Crash, Heritage Foundation Foundry, May 12, 2009.

Wrapping Up the G-20 Summit

The G-20 Summit: Mistakes and Missed Opportunities, Heritage Foundation WebMemo #2392, April 10, 2009.

An Initial Response to the G-20 Agreement

Bad News (Mostly) From Britain, Heritage Foundation Foundry, April 2, 2009.

The G-20 Summit Starts

The Circus Comes to Town, Heritage Foundation Foundry, April 2, 2009.