So were we better prepared for the recession

The words of Gordon Brown seem to be vanishing before our very eyes.No more boom and bust has already been consigned to the rubbish bin of history.

Now this morning's IFS report something else that we knew

Labour entered the current crisis with one of the largest structural budget
deficits in
the industrial world and a bigger debt than most OECD countries,
having done less to
reduce debt and – in particular – borrowing than most
since 1997. Debt interest
payments had fallen significantly since 1997, but
less than in most OECD countries.

I can see David Cameron's eyes lighting up maybe even a good topic for PMQ's