Re: Work for benefits : Tue Oct 01, 2013 9:32 am
El Barbudo wrote:
Gideon gets better and better.
Yesterday he was bragging that they'll run a surplus by the end of the next parliament.
Anyone remember what he said before the last election?
Yes, that's right, that he'd eliminate the deficit by 2015, a prediction that has been put back each year, by a year ... earlier this year they were predicting 2018.
But now (fanfare of trumpets) they will produce a surplus by, erm, 2020.
Or, to put it another way ... the one parliamentary term of five years required to eliminate the deficit is now going to be TEN YEARS.
Great predictions Gideon old chap.
Yesterday he was bragging that they'll run a surplus by the end of the next parliament.
Anyone remember what he said before the last election?
Yes, that's right, that he'd eliminate the deficit by 2015, a prediction that has been put back each year, by a year ... earlier this year they were predicting 2018.
But now (fanfare of trumpets) they will produce a surplus by, erm, 2020.
Or, to put it another way ... the one parliamentary term of five years required to eliminate the deficit is now going to be TEN YEARS.
Great predictions Gideon old chap.
The same thoughts crossed my mind when I heard it but that doesn't matter. It sounds good to the average person and continues the ridiculous analogies used previously such as not maxing out the nations credit card etc.
It's also economically inept. If in future there is another recession that drives the tax take down as unemployment rises ans spending decreases, just what is he going to do when that means the government has to borrow to keep things like the NHS, Police and other services running? Shut them down? The idea he can stash away enough to cope with the crash we just had is nuts. We'd have no roads fit to drive on, no NHS, nothing if he did that. A future government will have to borrow sooner rather than later if there is a major downturn.
There is also absolutely nothing wrong with borrowing if you use it to generate prosperity further down the line. It's only bad if you do as he does which is borrow to fund cuts. Which when you think about it is quite ironic.
He contracts the economy by austerity, has to borrow to keep the country running as a result and now proposes to outlaw borrowing in future. Is he saying he shouldn't be doing exactly what he is doing right now?
I'd also like to know how this will affect the funding for HS2. That is going to cost billions so does running a surplus mean we won't have the money for HS2 until the country has enough stashed away in the bank having run a surplus for a few years?
Or will borrowing for that be OK? If it is, then he is actually re-introducing Gordon Browns golden rule of only borrowing to invest. That would be even more ironic.
For a party that is so determinedly against borrowing, they seem to be doing an awful lot of it.
Exactly.