When he became prime minister of Great Britain two years ago, Conservative Party leader David Cameron began to implement an economic strategy much different than that pursued here in the United States under President Obama.
Cameron and his chancellor of the exchequer, George Osborne, decided that Plan A was to cut cut cut. They would cut their way to economic growth by slashing government spending by more than 20 percent across the board. Other aspects of their plan may sound familiar as well. Just last month, they announced that they would be cutting the top tax rate for Britain’s richest households while raising taxes on those who collect pensions, a proposal dubbed “the granny tax” because of its impact on the elderly.
When “Plan A” was first announced, American conservatives saw it as a model for their own economic theories. As Fox News noted back in