What can "Austerity" do for you?

Not much:

...the UK economy shrank by 0.3% in the last three months of 2011, not 0.2% as previously estimated...

The most startling fact in this morning's UK GDP data is that household disposable income fell by 1.2% during 2011. According to the Office for National Statistics, that's the biggest annual decline since 1977.

Oh how we "need" to do that here.