Slash and burn risk to economy

"To my mind the UK should set itself up as Europe's growth economy. A debt-to-GDP ratio of under 75 per cent, which is where it will peak, is manageable. In that context, the case for more cuts is weak. Appeasing the markets is like trying to reason with a crazy man; after Spain announced its cutbacks, the ratings agencies downgraded its debt because of lower growth prospects as a result of those cuts! You can't win with markets. Better to follow the right policy: supporting growth through higher spending on public investment and infrastructure, which will help the economy grow faster in the long term", writes Joseph Stiglitz in the Independent. http://www.independent.co.uk/opinion/commentators/joseph-stiglitz-fiscal-conservatism-may-be-good-for-one-nation-but-threatens-collective-disaster-2000517.html