Krugman on Osborne

Paul Krugman describes the foolishness of the current UK government's economic policy here. What he doesn't mention is that, whereas the Tories are folling their ideological preconceptions, the Liberal Democrats were arguing a much more Keynesian line before taking office. If economic growth does go down, the government deficit may well worsen, and then the Tories and Lib Dems will be faced with a double or quits option: make further government cuts (possibly giving us an even worse economic growth rate and deficit), or reverse the policy with a fiscal stimulus.