GDP figures will be out any minute now and estimates are dire, ranging from between a -0.2% contraction and a paltry 0.2% growth.
Extraordinary though it may sound, cutting services, freezing benefits and wages, rising unemployment and high inflation is not encouraging anyone to go shopping or invest in their businesses.
I know, it's a mystery! No-one could possibly have predicted that cutting this much during a recession wouldn't work, but there we have it.
Now, other countries that thought austerity would work have simply gone back to their treasuries and drawn up lists of even more eye-watering cuts. Obviously, their plans will work, they can't possibly be wrong! They just need to cut more!! Well, phew.
Weirdly, those cuts haven't worked either and Spain, Greece, Portugal and Ireland look likely to default.
So, possibly not this quarter, but maybe next George will stand before Parliament, oh so solemnly, and tell us we must cut more. If we don't the deficit will never go down! The markets will hold us to ransom! We'll be doomed I tell you, doomed!
Remember those 40% contingency plans he wanted every department to draw up? Well what do you think they were for? Certainly not an end of year Maths test for civil servants!
Gideon will swear that the only option is to cut an even deeper swathe of destruction through our society and our services - "There is no Alternative" he will wail! The Mail, Telegraph and Times will jump to his aid with earnest assurances of approaching Armageddon and debt-clock front pages. The public may even fall for it again, paralysed by this manufactured fear.
In welfare, we've already shouldered the worst of the cuts Then, with a gap in the figures, Osborne demanded Duncan-Smith find a few billion more. Today, we are facing 15 BILLION in welfare cuts.
Should Gideon try to persuade us all of that is not enough, that despite leaving old ladies to sit in their own filth, cancer patients left without a hospice, 200,000 dispossessed from their homes and cities, millions unemployed, child care cut and other horrors too numerous to mention we must cut more, we have no choice but to tell him "no".
We cannot, must not and will not allow him to reduce us to a society with no compassion.
He can achieve this elusive growth by listening to advice from almost any source and stimulating the economy. NOT by following his austerity ideology down a route that could ruin us all.
We've allowed him one attempt to make the impossible possible. He should not get another.