Growth has ground to a halt, real wages are falling and more than 6m people want work but can't find it: yet our chancellor continues to fiddle - with beer duties and the pottery industry - as the British economy flatlines. The inconvenient truth is that George Osborne has become Labour's greatest electoral asset.
As a Conservative I have no pleasure in exposing David Cameron's deficit claims. However, as long as the party continues to talk down the economy via the blame game, confidence will not be given an opportunity to return. For it is an undeniable and inescapable economic fact: without confidence and certainty there can be no real growth.
The first achievement highlighted today by the Prime Minister in his Sunday Times article was deficit reduction: "We've got the deficit down by a quarter already". This statement is true. But what the Prime Minister didn't say was that the economic outlook the Prime Minister inherited was for precisely this pace of deficit reduction.
As the disciples of Eurozone austerity are being unceremoniously booted out of office, now might be a good time for us to discuss whether the backlash against British austerity, which has been growing since the formation of the coalition, has the potential to expand and provoke yet another government to fall.