News2 mins ago
National Debt passes £1trillion -time for Osborne to go?
With last months borrowing hitting £14billion our debt has passed the £1Trillion mark.
After nearly two years in power, the Government instead of paying back our debt as they promised, seem to the borrowing even more crazyly than Labour did. Instead of our debt going down, it is getting larger.
http://www.telegraph....r-the-first-time.html
Even if you blame Brown for the mess, should the new Government's policy be having some effect by now? Should hings be getting better not much worse?
Is it time for Osborne to go as he has been a complete failure?
After nearly two years in power, the Government instead of paying back our debt as they promised, seem to the borrowing even more crazyly than Labour did. Instead of our debt going down, it is getting larger.
http://www.telegraph....r-the-first-time.html
Even if you blame Brown for the mess, should the new Government's policy be having some effect by now? Should hings be getting better not much worse?
Is it time for Osborne to go as he has been a complete failure?
Answers
Yes I know its dollars but it this is some idea of the scale of the problem in USA if you havent seen it before.
12:47 Tue 24th Jan 2012
-- answer removed --
As Krugman and others (including, to be fair, some in the Labour party but don't get too excited) keep pointing out - deficit spending at the moment does make economic sense (though of course doing it in times of growth as all governments have been doing for the past 20/30 years doesn't). Growth is the only thing that will solve the problems of recession/stagnation - to achieve that, consumer spending needs to pick up. Unfortunately it isn't, so the only spender we have as an alternative currently is government.
Maybe it could all be down to the law of diminishing returns. The unemployment rate is heading for 3 million which means less taxes coming in and more benfits to pay out. Osborne must certainly take some of the blame in not balancing the books but it must be similar to someone who takes out a credit card debt and the interest paid is higher than the monthly payment.
That is why the country must get some return on the benefits paid out, The claimants could easily do work that costs the country £bns in paying out to contractors. Alright some of these contractors would go to the wall but the country would benefit financially.
That is why the country must get some return on the benefits paid out, The claimants could easily do work that costs the country £bns in paying out to contractors. Alright some of these contractors would go to the wall but the country would benefit financially.
Taking polis out of this: Can anyone tell me when the ND went past a Billion? Isn't it just inflation? Not wishing to be simplistic but we will always have a national - Always. So before people go screaming in the streets, is a Trillion just a sign of the times.
he I first went to work my take home pay was £12 now its considerably more, a good house cost about £3,000 and a family saloon would cost about £5-700.
So rather than being a reson for woe is it "just" inflation?
he I first went to work my take home pay was £12 now its considerably more, a good house cost about £3,000 and a family saloon would cost about £5-700.
So rather than being a reson for woe is it "just" inflation?
Sorry theres something wrong with this keyboard:
Taking politics out of this: Can anyone tell me when the ND went past a Billion? Isn't it just inflation? Not wishing to be simplistic but we will always have a national Debt - Always. So before people go screaming in the streets, is a Trillion just a sign of the times.
When I first went to work my take home pay was £12 now its considerably more, a good house cost about £3,000 and a family saloon would cost about £5-700.
So rather than being a reason for woe is it "just" inflation?
Taking politics out of this: Can anyone tell me when the ND went past a Billion? Isn't it just inflation? Not wishing to be simplistic but we will always have a national Debt - Always. So before people go screaming in the streets, is a Trillion just a sign of the times.
When I first went to work my take home pay was £12 now its considerably more, a good house cost about £3,000 and a family saloon would cost about £5-700.
So rather than being a reason for woe is it "just" inflation?
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