‘No Room for Error’ in Cameron’s U.K. Deficit-Reduction Plan

British Prime Minister David Cameron’s reliance on welfare cuts to balance the budget left some economists and analysts doubting he will achieve the biggest deficit reduction ever.

That’s because meeting his target, which Chancellor of the Exchequer George Osborne detailed yesterday to Parliament, depends on cutting 7 billion pounds ($11 billion) more than he’d initially planned from the welfare bill -- spending over which the government lacks total control.