Clegg's daft 'soak the rich' soundbite can be considered as much a part of the silly season as the Clacton lion; the number of taxpayers in a narrow band between the 'squeezed middle' and those wealthy enough to leave UK tax jurisdiction if overtaxed is small. Yet this captive group - tied to their firms or employers, earning say over £100k - are to be token rich victims as the cuts start to bite next year among the poorest deciles. It's politics; it ain't economics.
Similarly all the calls for massive infrastructure funding. Such schemes take years to develop, and over the next two or three the only people who will benefit are architects, planners and consultants. Meanwhile business is sitting on a massive cash-pile they're either too nervous to invest or are keeping to compete in the inevitable shake-up of mergers, acquisitions and battlefield salvage from any Euro collapse.
Keynesian demand-stimulus - dropping fivers out of a helicopter - isn't the way either, not at this time. And don't forget hysteresis, that efficiency-gains implemented by firms in recession mean that if and when production returns to 2007 output levels it will do so at lower input factor costs. Except of course for the public sector, so resilient to shedding labour costs in recession that few efficiencies are ever gained from the economic cycle.