what Britain needs is for everyone to pay down debt, said in obvious obliviousness to the fact that if everyone cuts spending at the same time, income must fall. But then, this kind of obliviousness is very widespread, and my experience is that if you try to point out the problem - if you try to explain that my spending is your income and vice versa - you get a belligerent response. Y=E is seen as a political statement, which in a way it is if one side of the political spectrum insists on believing things that can’t be true.
Arithmetic Has A Well-Known Keynesian Bias - NYTimes.com