Absolutely. There were ongoing, systemic problems and the short-termist attitude of the politicians was "We can spend our way out of this and everything will return to normal." Sorry, but it won't. We have a decade or more of zero-growth while we start to pay off our debts. Then we can return to an expanding economy - if we deal with the debt and the welfarism and entitlement culture and so on. But we have a huge mess to deal with and it was very foolish (IMO) for the coalition to pretend everything was going to be fine. It smacks of an intellectual poverty that one would hope that a government as well-educated as this wouldn't be suffering from.
Originally Posted by SYNACK
Pretending its all fine does a few things:
Originally Posted by Flatpackhamster
1. Increases confidence in the stock market
2. Increases consumer confidence, and therefore spending
3. Gets people to vote for them