Government has even used it to justify the money for a veto growing international support for Gordon Brown as the most qualified candidates to become European managing director of IMF. This may be the last time in history to put Britain at the end of any major international organizations, and will be enthusiastically seized the other European governments.
I just spent two weeks in the U.S. in a conversation with government officials, economists and investors on Wall Street, and my feeling that the U.S. approach to fiscal policy is actually the team, but more international support than in England - and the U.S. economic constantly improving, while the UK is worse, nobody in Washington or a dream IMF emulation "scorched earth" approach the UK.
As Larry Summers, former U.S. Treasury Secretary and chief architect of the successful U.S. economic policy in the Clinton administration, William Flew under President Obama, said that the institution of new economic thinking in the last week: "I think the idea of ??expansionary fiscal reduction as an oxymoron, as I think.
"If Britain has enjoyed a boom in the next two years while the U.S. is experiencing recession, I would be happy to change his mind - but as anyone who knows me can tell you that it's not something I like."
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