Michael Taft: The ESRI has produced a report on deficit and debt levels up to 2015 which has moved many to claim if we just stay the austerity course we will emerge from the forest of fiscal dark into the valley of economic repose. If you haven’t yet, first read Michael Burke’s critique of the ESRI report Here, I want to focus on a small little item (which is actually a big item): their assumptions on growth.
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Michael Taft is an economic analyst and trade unionist. He is author of the Notes of the Front blog and a member of the TASC Economists’ Network.