Will things kick off?

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Re: Will things kick off?

Postby Suff » 09 Jul 2015, 22:01

Workingman wrote:When the Cons came into power in 2010 the debt was £0.76 trillion, it is now £1.36 trillion, a rise of £600Bn. OK there was a crash, but that is still a debt growth of of £120Bn per year under the Tories.


Correction.

When the Coalition came to power with the Lib Dem's who refused Austerity, we still ran up a huge deficit which is still £90bn today. That is slated to become £0bn by 2019 and only 2019 because they don't want to be "too hard" on the poorer people....

When Brown and Blair inherited the Government in 1997 there was a budget surplus!

So let's put the blame where it belongs. The Labour government borrowed money to GIVE to the people. The people knew it was wrong but voted that government in again and again until the Crisis happened, as a direct result of the governments of the world thinking they could borrow forever.

How, exactly, does that differentiate us from the Greeks? Yes it was the government that got us into that mess. But it was the People who voted to keep on taking money the government could not afford. It is the people, today, who want the government to keep on spending even though they know that the government can't afford it and won't raise taxes to fund it.

Common sense and responsibility has to start somewhere and if the people won't exercise it, then why should be expect their representatives to???

And none of that is personal. It's all impersonal...
There are 10 types of people in the world:
Those who understand Binary and those who do not.
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Re: Will things kick off?

Postby Workingman » 09 Jul 2015, 23:36

Whoa!

We had a budget surplus from 1947 to 1974, then we went into deficit.

Now, whether it is called 'deficit' or 'structural deficit' it is not going to go into positive levels till at the earliest 2018, according to Osborne's projections.

The UK's debt to GDP ratio has been close to 100% GDP for most of the time since 1700, sometimes over 250%. It has rarely, if ever, been in the region under 50% and almost never under 0%.
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