Brown's deceit

[cd27]

Good piece on the UK's fiscal troubles,

http://www.ft.com/cms/s/0/3b32dff8-5...tml?ftcamp=rss



sounds familiar!

[Kensington]

'Unless the economy recovers its lost output, the fiscal position will demand tough spending cuts or huge increases in taxation'

This, of course, is B.S. The Government will just continue increasing the national debt and, shock horror, the sky will not fall down.

This guy would be better looking at Abe Lincoln's economic policies as a possible way to sort the system out, rather than turning him into an inane cliche.

[Oblivion]

This, of course, is B.S. The Government will just continue increasing the national debt and, shock horror, the sky will not fall down.

Yeah, that policy has worked brilliantly for Africa's banana republics... so I'm sure it'll work in Britain, right? The UK now has a worse debt-to-GDP ratio than Turkey did in 2001 - when Turkey was forced to go for an IMF bailout.

The UK's national credit card is maxed out. Mervin King has said so himself. The Labour spending spree is over.

Your claim that the UK can merrily "just continue increasing the national debt" has about as much credibility as Hitler, in May '45, gathering his generals to orchestrate a "glorious counter attack to end the war." It just ain't gonna happen.

Next 5 - 10 years: budget cuts, budget cuts and.... er.... oh yes, more budget cuts.

[sandar]

'Unless the economy recovers its lost output, the fiscal position will demand tough spending cuts or huge increases in taxation'

This, of course, is B.S. The Government will just continue increasing the national debt and, shock horror, the sky will not fall down.

This guy would be better looking at Abe Lincoln's economic policies as a possible way to sort the system out, rather than turning him into an inane cliche.

increasing national debt leads to inflation, and the IMF coming to town.
Brown is doing what every other labour administration is doing, and the consequence will be the same, a shattered economy rescued by others and labour not trusted to run the economy for another political generation.
The lparalell with lincoln is ridicuklous, america was vonstantly growing and expanding at that rtime anyway, so the demand wasnt artificial, so the supply and demand could equal each other and inflation not happen. That was unprecedented because of where america was in its development, britian is not there, and the sky has fallen in for them before.

[dmc444]

Britains problem is that they are being too optimistic about growth both next year and the year after.

Britain is currently borrowing around £33,000 for every man, woman and child in the Uk which is more than every British government combined.

This year the British goverment will spend £28 Billion just on Debt interest.

Yet Brown still says that he will continue to increase public spending which is just simply not sustainable. At least the Government and opposition parties in this country realise the need to get spending under control and are doing so now.

[sandar]

brown wont say this to his voters but he is cutting spending from 2011, he is such a nasty little hypocrite that he will attack the tories for that, even though he is doing it as well.

[dmc444]

When i talk about Brown i always come back with this quote.

Jim Callaghan in 1976

"We used to think that you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candour that that option no longer exists, and in so far as it ever did exist, it only worked on each occasion since the war by injecting a bigger dose of inflation into the economy, followed by a higher level of unemployment as the next step."