Very, very stupid.
The International Monetary Fund today called the government’s spending cuts into question, warning western countries that cutting budget deficits this year risked derailing economic recovery.
. . . .
“Most advanced economies do not need to tighten before 2011, because tightening sooner could undermine the fledgling recovery, but they should not add further stimulus,” the IMF said in an update to its twice-yearly world economic outlook.
(Read more from guardian.co.uk)
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