Prudence and profligacy | The Economist
▻http://www.economist.com/node/21664135?fsrc=scn/tw/te/pe/ed/prudenceandprofligacy
THE word “austerity” entered the public discourse after the global recession punched a hole in public finances across the rich world. Governments scrambled to paint themselves as the most prudent, either to win votes (Britain), or to persuade their creditors that they could cut no more (Greece). But matching the rhetoric to the reality by measuring exactly how austere governments have been is not straightforward.