He's pursuing policies that are similar to Gordon Brown's, which given Broon's ideas as Chancellor and PM helped put in this position are highly unlikely to get us out.
I'm fine with austerity, but that doesn't mean you cannot have policies designed to improve growth.
We're still borrowing ridiculous amounts - mortgaging our future - and whilst the markets are forgiving if that borrowing engenders growth, when it doesn't they'll start getting antsy and borrowing rates will start climbing.
An overly large Public Sector, massive debt, PFI, Enron style accounting, being in the pockets of the Murdochs... It's like Labour never left the damn building.