Postpone some of the cuts?

ILW

Thrugelmir wrote: »

Or taking the Labour view. Over an extended period of time i.e. 10 years.

Easy to say 10 years as few people think beyond their next pay day.

Go on for another 10 years as we have been and just servicing the interest on the debt could account for most of the countries income. eg: Nothing to spend on public services, just hand it over to foreign banks.

Thrugelmir

ILW wrote: »

Go on for another 10 years as we have been and just servicing the interest on the debt could account for most of the countries income. eg: Nothing to spend on public services, just hand it over to foreign banks.

Akin to mortgage interest on property.

ILW

Thrugelmir wrote: »

Akin to mortgage interest on property.

More like carrying over payday loans and never clearing them.

StevieJ

Mr_Mumble wrote: »

That's not what the press release says. Any "case" (what they actually say) for postponing some 'cuts' is based on the ever-dodgy output gap that the BoE admit to have totally misjudged prior to the recession.<br>

They actually suggest postponing the cuts or they don't Make your mind up

Losing_the_way

Thrugelmir wrote: »

Or taking the Labour view. Over an extended period of time i.e. 10 years.

Easy to say 10 years as few people think beyond their next pay day.

Ultimately is a zero number game. However we get there.

Well before then we'll start to notice, that like the last government did with university education, a whole raft of things that were supported by the state aren't. Those that wish to delay the inevitable are dooming future generations to a country where the welfare state is distant history. Our generation needs to man up and accept the cuts and start saving what can of it for them rather than delaying and letting it vanish.

Sir_Humphrey

ILW wrote: »

More like carrying over payday loans and never clearing them.

I think you'll find that the interest is much lower than a payday loan!

They are nothing alike.

StevieJ

Losing_the_way wrote: »

Well before then we'll start to notice, that like the last government did with university education, a whole raft of things that were supported by the state aren't. Those that wish to delay the inevitable are dooming future generations to a country where the welfare state is distant history. Our generation needs to man up and accept the cuts and start saving what can of it for them rather than delaying and letting it vanish.

The only reason being suggested for delaying the cuts is that it may make the situation worse (e.g. cut growth and increase deficit).

ILW

Sir_Humphrey wrote: »

I think you'll find that the interest is much lower than a payday loan!

They are nothing alike.

The theory is the same, increasing the amount of borrowing every month or year finally hits a point where the money needed to service the interest alone is more than income. = No public services whatsoever.

Losing_the_way

StevieJ wrote: »

The only reason being suggested for delaying the cuts is that it may make the situation worse (e.g. cut growth and increase deficit).

I think that history would show that it is bad for us but not to will be a legacy of our generation's cowardice, I'd rather be remembered as having lived at a time where courageously we struggled to put our wrongs right and didn't pass them on than just kicked them down the road.

ILW

Losing_the_way wrote: »

I think that history would show that it is bad for us but not to will be a legacy of our generation's cowardice, I'd rather be remembered as having lived at a time where courageously we struggled to put our wrongs right and didn't pass them on than just kicked them down the road.

Cannot see Sir H agreeing, it may affect his final salary pension.