Paul Krugman Optimism on the Economy

Paul Krugman has a tiny glimmer of optimism that austerity is finally being being eased out of the economic debate.  I am sorry to say that I haven't noticed that in the UK, where George Osborne seems unfazed by his spectacular wrongness on every subject.  I suspect that this is because George Osborne does not care about the economic consequences of his policy so long as the political policies are holding good.  Given the scale of the Conservative government's mismanagement, one might have expected their political state to be much worse than it is, so Labour will have to work out a way to connect the suffering people have felt with the decisions that David Cameron and Nick Clegg made.