Sense on Cents

Is Barack Obama listening to the political winds blowing across Europe? With European central bankers turning away from ongoing fiscal stimulus in an attempt to avert a sovereign currency crisis, political leaders in Europe are singing from the same sheet of music. If you don’t think so, let’s listen to the recently elected British Prime Minister David Cameron. What does Cameron have to say? The Financial Times sheds real insights into the future for the UK in writing, Cameron Warns on Impact of Cuts:

David Cameron, Britain’s prime minister, yesterday put the country on notice that his plan to cut the £156bn deficit would have “enormous implications”, warning that public sector pay, pensions and state benefits would all face cuts.

Mr Cameron’s new coalition government has prioritised deficit reduction and is preparing Britain for what is expected to be a bruising “emergency Budget” on June 22. The prime minister said the cuts would hit “every single person in our country”.

What does Barack think about that? (more…)