There is an economic crisis – it is a crisis of high unemployment and stagnant growth; it is not, as the ConDems insist, a crisis of the public finances. The ConDems have systematically distorted and exaggerated problems with the public finances. The UK was never in danger of becoming the next Greece. The rising deficit reflected the collapse in tax revenues and rising cost of unemployment benefits during the recession. It was not caused by out of control public spending.
History does not support the ConDem assertion that cuts will be good for growth and jobs. But history does support the STUC’s belief that deep and premature cuts will lead to persistently high unemployment.
There is a Better Way!

From: http://www.thereisabetterway.org/the-better-way