The British chancellor of the exchequer, George Osborne, introduced the age of austerity with his new budget, which reflects the fact that the government is already scratching the bottom of the proverbial barrel. He admitted that it would last for another six years, through 2018. The British newspapers are flabbergasted. Six more years? But I like the chancellor’s message. Recovery is not within sight. The only thing I object to in his budget is that it does not explicitly recognize that Britain is in depression. The term is eschewed at all costs, even though it would focus the minds and provide for special measures, both political and economic, to support those who are suffering the most. Anyhow, the age of austerity it is. A new name for depression, as it were. Would that other European countries embraced it with the same candor. As well as stretch it far into the hazy future. And what could be wrong with 2018?