Moody's Kick Osborne's Economic Strategy Into Touch.

After nearly two years of unremitting austerity to protect Britain's credit rating the credit rating agency Moody's have passed their verdict and put Britain on negative outlook. Their reason was, "weaker macroeconomic environment, which will challenge the government's efforts to place its debt burden on a downward trajectory over the coming years." In other words Osborne's strategy has harmed Britain's economy and made it more difficult for it to service its debt. Osborne was quick to point out that Moody's hadn't actually said that his deficit reduction strategy was wrong, which seems to indicate that the Chancellor has, as always, completely missed the point. He has screwed up the economy and Moody's, not to mention just about everyone else in the world, have rumbled him for the economic ignoramus he always was.