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We had a $10 billion budget deficit when we got here in January of 2003. We cut that budget deficit; we did not raise taxes; we came back in '05, and we had an $8 billion surplus. That's how fast it can happen.
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In the U.S. the powerful critics of austerity such as Paul Krugman and Robert Reich rightly identify the decline of ‘labor' as a problem, and renewing trade unionism part of the solution. Our opportunity is to make the same case in the UK.
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