The consequences of austerity in one chart?


“Check out the UK line,” writes Joe Weisenthal. “The UK was recovering on a fine trajectory right up until early 2010, at which point UK growth hit a brick wall. What happened in 2010? That’s when conservative David Cameron came to power with an agenda of reigning in the debt.”

Meanwhile, the United States is doing better than either the United Kingdom or the Eurozone. That doesn’t necessarily prove anything: We have different economies that have faced somewhat different crises. But imagine, for a moment, how often you would see this chart if austerity had coincided with the UK or the Eurozone recovering more quickly than us.

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