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Cons Increase Deficit & National Debt Targets Missed
Comments
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The big worry is that now Osborne has realised the original set of sumseconomic predictors were wrong, he has already turned the Titanic of Britain in the wrong direction - its too late to do anything about it - as Social Europe puts it ' economic predictions of austerity and harsh cuts were wrong and did lasting damage to real peoples lives. Theres nothing he can do now - the Americans got it right and are ahead of us.0
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DecentLivingWage wrote: »Hmmmnn, Cons to lose 40 seats to Labour says the Mail Online (helped by Ukip) It seems you are in the minority.... Voters gave Osborne a couple of fair chances when he said he'd reduce the deficit but didnt - EndGame for the Cons
The deficit has fallen. I know you enjoy a good lie as much as the next Socialist (when you're not laughing at the victims of child abuse) but you really should learn to to lie slightly more subtly.0 -
Can can you link to that one please as I am confused.
Are you saying the annual gap between income and expenditure had narrowed, BUT another huge amount has been added to the outstanding debt in my name as a tax payer [As someone who has paid off the last of the mortgage, it is really assuring to know the government is running up another one in my name].
IE we as a Nation are on interest only and still not keeping up with the payments?
So as a nation we are still getting "further behind with the mortgage" ?
Don't forget to include the "funny finance" like payments to and from the EU.
Sale and leaseback. PFI. Local Authority grants, Compulsory un-mitigated payments and all the other accounting tricks designed to create "off the books" transactions and turn revenue into capital and vice versa. The objective is to kick the can down the road while borrowing from the future on behalf of our grandchildren ?0 -
John_Pierpoint wrote: »Can can you link to that one please as I am confused.
Are you saying the annual gap between income and expenditure had narrowed, BUT another huge amount has been added to the outstanding debt in my name as a tax payer [As someone who has paid off the last of the mortgage it is really assuring to know the government is running up another one in my name].
So as a nation we are still getting "further behind with the mortgage" ?
It's all a little complex.
Firstly there are 2 debts and deficits: one pair includes the potential costs of the bank bailouts and one excludes them. The former includes the value of all guaranteed bank deposits.
The deficit, the amount the Government spends more than it taxes, has fallen from 2011 to 2012 (up to November, Dec 2012 hasn't been released yet). That means that the debt has increased.
The debt has increased but is increasing more slowly than before. That is what the Tories said they would try to do at the last election.0 -
Not quite what I would want on my tomb stone "This man staved off the collapse of the value of sterling by 18 months?" in a can kicking competition with 3 other big developed economies to pretend not to race to the bottom ?
Cameron had trouble on the Andrew Marr Show (BBC1) this morning, when answering a question about the AAA rating:
Mess that up and our banks could still look like regional Spanish banks.0 -
The deficit has fallen. I know you enjoy a good lie as much as the next Socialist (when you're not laughing at the victims of child abuse) but you really should learn to to lie slightly more subtly.
The effects of the GFC on our economy always meant the next administration to follow the outgoing government of 2010 was going to face significant challenges, regardless of their political colour.
We had spent a lot of our ammunition on things like QE; 0.5% base rates; and the VAT reduction to 15%.
We were always going to be exposed to things like a weak European market.
I don't see how people think it would be that much better under Labour?
"Making the best of a bad job" is as good as it gets right now.0 -
John_Pierpoint wrote: »Not quite what I would want on my tomb stone "This man staved off the collapse of the value of sterling by 18 months?" in a can kicking competition with 3 other big developed economies to pretend not to race to the bottom ?
Cameron had trouble on the Andrew Marr Show (BBC1) this morning, when answering a question about the AAA rating:
Mess that up and our banks could still look like regional Spanish banks.
They would be more likely to mess it up of they succumbed to Labour's ludicrous "solution" of borrowing even more money.No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0 -
GeorgeHowell wrote: »They would be more likely to mess it up of they succumbed to Labour's ludicrous "solution" of borrowing even more money.
AIUI the solution offered by Labour was to borrow a teeny weeny little bit more money.
Because that would make a massive difference.
Apparently.:rotfl:0 -
AIUI the solution offered by Labour was to borrow a teeny weeny little bit more money.
Because that would make a massive difference.
Apparently.:rotfl:
Expecting Labour to borrow a "teeny weeny" little would be like handing an alcoholic a case of whisky and saying, "Just pour yourself a wee toddy".No-one would remember the Good Samaritan if he'd only had good intentions. He had money as well.
The problem with socialism is that eventually you run out of other people's money.
Margaret Thatcher0 -
John_Pierpoint wrote: »
Cameron had trouble on the Andrew Marr Show (BBC1) this morning, when answering a question about the AAA rating:
Mess that up and our banks could still look like regional Spanish banks.
He also struggled on mass EU immigration but no doubt he will clarify it in his speech;)
Marr was too nice with him today."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0
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