Wednesday, April 25, 2012
The Republican/Teabaggers must be so jealous.
Because the British Conservative Party has achieved a goal that the Republican/Teabaggers are still dreaming about.
Britain slid back into recession in the first quarter of the year, according to official figures released Wednesday, undercutting the government’s argument that its austerity program was working.Curiously, the British Conservatives success is not aimed at driving the ruling party out of office because they are the ones in the driver's seat, although is may do so.
The British economy shrank 0.2 percent in the first quarter after contracting 0.3 percent in the fourth quarter of last year, the Office for National Statistics said Wednesday. The first double-dip recession in the country since the 1970s was mainly the result of a slump in the construction industry at the beginning of this year.
Some economists had predicted a small increase in first-quarter gross domestic product after recent surveys had indicated that the British economy was recovering, albeit very slowly. Prime Minister David Cameron’s government had pointed to the recovery as a sign that the austerity measures it implemented were working.
“The economy slipping back into recession comes as a blow”
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