UK deficit spending working- household debt repayments up
April 01, 2009 at 09:40 AM EDT
[Skip to the end] Notice how this corresponds to rising public sector deficits as counter cyclical fiscal policy does its thing: UK Households Step Up Debt Repayments as Recession Deepens Britons increased the equity in their homes at the fastest pace on record as the recession encouraged households to pay down existing mortgages rather than take out new [...]