A quick entry from me: take a look at this item via Reason TV spot about the monster of a healthcare bill that passed at the weekend in the US. (I love the Incredibles-style music in it, by the way). As Gillespie puts it, the government underestimates of spending on things like health is not a bug, but a feature. The message that comes through, of course, is one that applies to governments worldwide. Do we honestly expect that politicians who are capable of the sort of accounting tricks surrounding building projects like the Olympic Games in London can be trusted to give accurate, costed predictions on things like healthcare spending, or education, or defence procurement?
Bear that in mind as we read the latest performance by UK finance minister, Alistair Darling, today.