Friday, 18 September 2009
They need to jump now and take the rest of their cronies with them or avoid falling deeper into the black hole.
UK monthly budget deficit soars to record £16bn. At the end of August public sector net debt was £804.8bn, equivalent to 57.5% of gross domestic product.
Deterioration in the public finances has been a result more of a collapse in revenues, total receipts fell 9.2 per cent from the period a year before.
For the last six months yellow streak Brown and dumbledorf Darling have been like rabbits staring into the headlights of a fast-approaching lorry. Those headlights have just got a lot brighter! They need to jump now and take the rest of their cronies with them or fall deeper into the black hole.
It's just staggering that anyone can seriously defend the government's economic record, let alone argue that we're in such a mess because Liebore was insufficiently socialist or left wing.Yes, we all know that the roots of the economic crisis are global but yellow streak Brown and Liebore bear particular responsibility for putting in place a regulatory regime that allowed the excesses of the banking system to balloon and building up a structural public finance deficit during the boom years when tax revenues were at an unprecedented high. The specific woes of the UK economy can be directly attributed to these factors.
Yellow streak Brown's blustering and boasting about his 'golden rules', having abolished 'boom and bust', and Liebore 'Investment' are as empty and ridiculous.
To see his pontificating on the BBC's `Love of Money' programme last night made me feel physically sick. He's still trying to run two games at once. On one hand he's mouthing oratory about curbing bonuses and regulating the banking system and on the other he can't conceal his desperation for the 40% tax he'd get on a £1 million banker's bonus!
And to watch him disclaim any responsibility for the mess last night should make anyone of any political persuasion think that he's either in deep, deep denial, economically illiterate, downright mendacious or all of these. And to think that his acolytes hailed him as the greatest chancellor of the modern era/ever, what a cunt....
This dysfunctional, discredited and dishonest government, and it's leader in particular, deserve our enduring contempt.
The money has gone. The public sector needs to be slashed to its 1997 size.
Its the private sector that makes the money for the public sector to spend. Now the private sector has nothing left so a massive reduction in the public sector will have to follow.
Its what happens when we have a socialist government. It always has and always will.