The Chancellor's new assumption that tax cuts significantly boost growth could result in a higher than expected deficit.
The Chancellor's criticis never said that there would be no recovery, only that it would be painfully slow. And they were right.
To resign ourselves to a return to the economic pathologies of the past, as the Tories do, would be to miss a historic opportunity.
New Economic Secretary Andrea Leadsom said during the 2012 Libor row: "Obviously he made a mistake and I think he should apologise to him."
A state annuity scheme would improve the public finances, provide financial security and raise living standards.
Self-conscious attempts by one government to constrain the hands of their successors rarely work.
The greater the challenge of borrowing appears, the more likely voters are to stick with the Tories.
Rather than seeking to craft a new electoral coalition, the Tories are just managing decline.
For the sake of a day of good headlines and a few billion pounds of extra tax, the Chancellor has put years of painful progress at risk.
The Chancellor's cuts are likely to reverse the fall in inequality that he boasted of.