it was not overspending during the boom...

well, yes it was, we didn't have a balanced budget then either. As soon as the bust inevitably came we are left in the doggy doo.

I will quote Gordon Brown... "No return to boom and bust". With a little more prudence and less extravagant public spending during the mid 2000s we would not be in such a mess.

As for the reason for the bust, in all honesty does it matter? It is certainly no excuse for the excessive spending since 2003 (ish) onwards.

Posted By: phrankin on December 1st 2011 at 09:45:50

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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