Problem is ...

Country has the largest debt of any AAA rated country in the western world - this is because of huge overspending during what were relateively wealthy times under the last government. However, we currently borrow at a rate lower than Germany - therefore it is just about affordable. But, if we lose that rating, and borrowing becomes more expensive .... we are well and truly f***d (see Italy etc). Therefore, the Government has committed to "cuts" (note, incidentally: 1. that we still spend more than we raise, as a state; and 2. the amount we owe is therefore still increasing) - without those cuts (and note also that Labout party pre-election said it would have to cut to a substantially similar extent) our AAA rating would be threatened. Why do you think every other country is (belatedly in some cases) doing the same thing? The party is over ....

Posted By: paulg on December 1st 2011 at 09:36:40

Message Thread

Problem is ... (General Chat) - paulg, Dec 1, 09:36:40
- "The party is over." (General Chat) - jafski, Dec 1, 09:38:54
  - everyone (General Chat) - Cheltenham_Canary, Dec 1, 09:40:30
    - "Everyone has and will suffer" (General Chat) - jafski, Dec 1, 09:46:19
      - you are bang wrong in this instance i am afraid, no they did not (General Chat) - Tombs, Dec 1, 09:51:08
        
        Good effort tombs. Will that be a capitalist rich poo, or a dry socialist one? (n/m) (General Chat) - jafski, Dec 1, 09:52:07
        
        probably be a centre ground lib dem one (General Chat) - Tombs, Dec 1, 09:53:56
        
        I think you can compare it to Leeds football club (General Chat) - phrankin, Dec 1, 09:56:49
        
        "Then find you have to sell off your assets at a reduced price" - indeed, seem to remember (General Chat) - CB41, Dec 1, 10:33:48
        
        yep I do remember a lot of privatisations some for good some not (General Chat) - phrankin, Dec 1, 11:23:40
      - that bit I agree with....... (General Chat) - Cheltenham_Canary, Dec 1, 09:49:24
        
        actually .. (General Chat) - paulg, Dec 1, 09:55:20
        
        That's what they want. To divide us. We need to stick together to fight the elite. (General Chat) - jafski, Dec 1, 09:51:18
        
        Let's march up Kett's Hill (General Chat) - duke of york, Dec 1, 09:55:07
        
        we need a dicker to keep an eye out for the cheltenham stasi (General Chat) - Tombs, Dec 1, 09:57:53
        
        Quick pint in the Ketts Tavern. (n/m) (General Chat) - jafski, Dec 1, 09:55:35
        
        aha! this is better^^^ (General Chat) - Tombs, Dec 1, 09:53:01
        
        but.... (General Chat) - Cheltenham_Canary, Dec 1, 09:54:12
        
        back the bankers! (General Chat) - Tombs, Dec 1, 09:55:26
        
        YEAH! Where is Bucks? (n/m) (General Chat) - jafski, Dec 1, 09:53:38
        
        he's utterlyhuckerby this month (General Chat) - Tombs, Dec 1, 09:54:50
- It wasn't overspending until the banking system (General Chat) - duke of york, Dec 1, 09:38:08
  - it was overspending .. (General Chat) - paulg, Dec 1, 09:43:20
    - I was complaining in 1989 when my mortgage rate was 12.5% (General Chat) - duke of york, Dec 1, 09:44:53
  - excuse me.... (General Chat) - Cheltenham_Canary, Dec 1, 09:42:09
    - I'm talking about the deregulation of the financial system (n/m) (General Chat) - duke of york, Dec 1, 09:43:31
      - it was not overspending during the boom... (General Chat) - phrankin, Dec 1, 09:45:50
      - deregulation was just a provokotive response.... (General Chat) - Cheltenham_Canary, Dec 1, 09:45:19
        
        it's pretty simple really (General Chat) - phrankin, Dec 1, 09:49:09
        
        agreed. (General Chat) - Cheltenham_Canary, Dec 1, 09:50:45
        
        took longer to filter through to the public sector (General Chat) - phrankin, Dec 1, 10:03:29

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