Wednesday, 20 October 2010

Same old boss; same old debt

Here's the key quote:
Total public expenditure, which includes debt interest payments, will be £702bn next year then £713bn, £724bn and £740bn, bringing real terms public spending to the same level as 2008.
So, all this talk of "cuts" is pretty meaningless, isn't it? The debt in "real terms" will be back to what it was in 2008, but not for 4 years! But the "real terms" quote is what matters. If the Bank of England (sic) did its real job, and stopped stealing your granny's life savings, there wouldn't be any inflation to disguise the true nature of this con.

"Conservatives", "Liberals": give me a break.

1 comment:

David Farrer said...

Comment made on previous template:

Stealing Grannies savings only seems fair when Grannies generation stole the remaining earth's resources from future generations to build their wealth, leaving future generations to sort out the mess.

5 November 2010, 20:00:56 GMT