Quite a timely release from a friend and comrade of mine, Barry Kushner:
The Coalition Government in the United Kingdom, like other governments, is embarking on an unprecedented round of spending cuts. Talk of deficits, the National Debt, Quantitative Easing, and other economic terminology is presented to the public as evidence that there is a vital need for some of the most drastic cuts the West has faced. But according to Barry Kushner, there is an alternative story that is not being told. There is a view of the economic events of the past five years that does not see the UK in debt crisis. It offers choice, differences of opinion, uncertainty and hope. It takes us on a different voyage beyond economics into politics and visions of society, our expectations and ambitions. It is an alternative story that prompted an American Nobel prize-winning economist to write '"Jobs now, deficits later" was and is the right strategy. Unfortunately, it's a strategy that has been abandoned in the face of phantom risks and delusional hopes.'
Who Needs the Cuts?: Myths of the Economic Crisis - Barry Kushner
Definitely worth a read by the sounds of it.