Condems have run up largest ever UK Debt

drunkenmaster said:
When you have a single clue what you're talking about come back, till then get a grip.

Here's a little hint, ONS decide the deficit is the difference between what comes in to the government and what they spend ignoring all investments.

EVERYONE else looks at net borrowing to determine deficit.

When Labour left power we had a deficit by way of total public borrowing(and debt we load onto the country) of about £170billion, or deficit according to ONS, was just over £110billion.

The "real" figure IS £170billion, that is how much we borrowed full stop that is how much was added onto our debt.

If you can tell me how in one quarter we have hit record deficit, when even according to their own numbers we hit £110billion (with the mostly pointless lower number) that is more than 4 times the figure they are now quoting as a record, go ahead.

In reality Labour left us with a deficit of £170billion, divide that by four and see if the 20billion in a quarter is some kind of new terrible record due to Conservative incompetence.

It's way way way way .... way way way way .... way way way easier to run up a £170billion deficit than it is to bring that back down. Almost every cut means someone losing out somewhere, Brown bought us out of a recession... with no sensible economy growth, infact with years and years of ruining the underlying economy, and he loaded massive completely previously unseen levels of debt and spending on the public sector to "fake" our way out of a recession.

The only way that plan would have continued to work was by continually every year massively increasing the deficit... we'd be talking about well over £200billion deficit to keep that idiotic plan going.

Due to inflation, "records" in every sector, in every statistic happen constantly. Record average wage as we hit £23k, because the year before it was £22.8k, and 50 years earlier it was £5k, because... money is worth less and we get more of it.

Another way to look at it, whats better, 20billion one quarter and 5billion in the other 3 quarters, or 19billion every quarter? One simple loan, completely meaningless statistic on its own is worth... nothing.
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What im getting at is, that all this government seems to do is go on about the financial incompetence of Brown et al, but in reality they are doing no better themselves.

However the current cuts are aimed entirely at lower class people. Labour for all their wrongs did actually close the gap between rich and poor, it seems the Tories will now do anything to widen that gap to keep their rich banking masters happy.
 
JonJ678 said:
Country is running at a loss. That isn't news. Continuing to run at a loss means that the UK may well be as far in debt as it has ever been. It doesn't follow that the conservatives are to blame for this. ****** reporting from the guardian, that's all.
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I can't decide whether it would be blissful or horrible to be as blinkered as you. You clearly didn't even read the article, yet say it was poor reporting from the Guardian. What exactly was incorrectly reported? Cheers.
 
MrMoonX said:
What im getting at is, that all this government seems to do is go on about the financial incompetence of Brown et al, but in reality they are doing no better themselves.

However the current cuts are aimed entirely at lower class people. Labour for all their wrongs did actually close the gap between rich and poor, it seems the Tories will now do anything to widen that gap to keep their rich banking masters happy.
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Errm... I'm sorry? Of course they are doing a better job than Brown/Labour. Brown didn't even attempt to solve our national debt problems, he just kept adding to them and peddling the easy answers.
 
estebanrey said:
If you're talking about me I don't think I've ever started a thread about politicians let alone a ranting one. I'll wait for the apology....
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Why would he need to apologise if even YOU don't know if you have done what he says he thinks you have done? :confused:
 
MrMoonX said:
However the current cuts are aimed entirely at lower class people. Labour for all their wrongs did actually close the gap between rich and poor, it seems the Tories will now do anything to widen that gap to keep their rich banking masters happy.
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How are you so certain that they're aimed at lower class people?

Is it not just the case that despite best efforts, poor people bare the brunt of any reduction in public service or welfare because they are poor? It's not that hard to grasp. It doesn't mean that they're being specifically targeted.
 
drunkenmaster said:
When you have a single clue what you're talking about come back, till then get a grip.

Here's a little hint, ONS decide the deficit is the difference between what comes in to the government and what they spend ignoring all investments.

EVERYONE else looks at net borrowing to determine deficit.

When Labour left power we had a deficit by way of total public borrowing(and debt we load onto the country) of about £170billion, or deficit according to ONS, was just over £110billion.

The "real" figure IS £170billion, that is how much we borrowed full stop that is how much was added onto our debt.

If you can tell me how in one quarter we have hit record deficit, when even according to their own numbers we hit £110billion (with the mostly pointless lower number) that is more than 4 times the figure they are now quoting as a record, go ahead.

In reality Labour left us with a deficit of £170billion, divide that by four and see if the 20billion in a quarter is some kind of new terrible record due to Conservative incompetence.

It's way way way way .... way way way way .... way way way easier to run up a £170billion deficit than it is to bring that back down. Almost every cut means someone losing out somewhere, Brown bought us out of a recession... with no sensible economy growth, infact with years and years of ruining the underlying economy, and he loaded massive completely previously unseen levels of debt and spending on the public sector to "fake" our way out of a recession.

The only way that plan would have continued to work was by continually every year massively increasing the deficit... we'd be talking about well over £200billion deficit to keep that idiotic plan going.

Due to inflation, "records" in every sector, in every statistic happen constantly. Record average wage as we hit £23k, because the year before it was £22.8k, and 50 years earlier it was £5k, because... money is worth less and we get more of it.

Another way to look at it, whats better, 20billion one quarter and 5billion in the other 3 quarters, or 19billion every quarter? One simple loan, completely meaningless statistic on its own is worth... nothing.
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Someone that talks sense....However, I have a feeling that this 20billion figure may omit some borrowing figures which were included in the previous deficit of 170billion. I could be completly mistaken, but including these borrowing figures, this deficit will be closer to 50billion.
 
MrMoonX said:
What im getting at is, that all this government seems to do is go on about the financial incompetence of Brown et al, but in reality they are doing no better themselves.

However the current cuts are aimed entirely at lower class people. Labour for all their wrongs did actually close the gap between rich and poor, it seems the Tories will now do anything to widen that gap to keep their rich banking masters happy.
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A silly comment, on so many levels. There is a vast different between the two. I don't have the time to go into the detail I'd like, but suffice to say that Brown and his clowns created a debt fuelled boom for the best part of ten years, to undo the damage done by that is going to take more then a couple of years.
 
Hatter The Mad said:
How are you so certain that they're aimed at lower class people?

Is it not just the case that despite best efforts, poor people bare the brunt of any reduction in public service or welfare because they are poor? It's not that hard to grasp. It doesn't mean that they're being specifically targeted.
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well when you cut useful services that poor people use and need, and give tax breaks to millionaires and corporations, it doesnt take a genius to work out what they are doing.
 
oh knoes OP Cameron doesn't remember the name of the composer who wrote some ancient song - lets use it to bash him pointlessly.

what a waste of space thread.


MrMoonX said:
However the current cuts are aimed entirely at lower class people. Labour for all their wrongs did actually close the gap between rich and poor, it seems the Tories will now do anything to widen that gap to keep their rich banking masters happy.
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No what Labour did is spend a colossal amount of money that wasnt theres , encouraged growth by telling everyone to splash out and enjoy life and at the same time also encourage those that couldnt be arsed to do anything to spend more state money to prop up their incredibly selfish needs.
the rich/Poor devide has always been large - just in this government their actually a little bit more careful on who they give tax payers money too.
 
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Energizer Bunny said:
Balmy?
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Freudian slip imo :)

Actually "balmy" is quite accurate, we haven't had any austerity yet, govt spending still going up and Bank of England printing money. When the merry-go-round stops (and it will) THEN people will find out what austerity means. Alternatively just ask anyone from Greece/Spain
 
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MrMoonX said:
well well well, looks as though the Tory mantra of reducing the deficit with balmy austerity measures truly isnt working "official statistics showed Britain ran up the largest current account deficit on record in the second quarter of 2012" :rolleyes:

Just shows how broken the capitalist financial system really is or that Cameron and co are just a bunch of incompetent fools, which judging his Letterman performance is quite probable.

source: http://www.guardian.co.uk/business/2012/sep/27/uk-gdp-economy-data-second-quarter
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He and Boris done very well on Letterman I thought, but I'm sure you could do better right?
 
MrMoonX said:
well well well, looks as though the Tory mantra of reducing the deficit with balmy austerity measures truly isnt working
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Can you provide any proof that the deficit would have been in anyway less without austerity measures, or are you just using he fact that the deficit is getting worse just to pooh-pooh the governement?
 
Nuttah said:
A silly comment, on so many levels. There is a vast different between the two. I don't have the time to go into the detail I'd like, but suffice to say that Brown and his clowns created a debt fuelled boom for the best part of ten years, to undo the damage done by that is going to take more then a couple of years.
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Indeed, this economic crisis is an oil tanker and it takes awhile for it to turn round. Did MoonX really think there's a quick fix solution to all of this? Does he really think there's easy solutions that will work in 2-3years? Try 20-30years!!

It scary and depressing me that people think like MoonX, his solution would bring misery to the millions of people he thinks it would help.
 
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