Monday, 11 October 2010

Deficit deniers

There do seem quite a number of Labour Members who are still in denial about the seriousness of the economic situation that they left this country in. Of course when you have left behind the biggest debt mountain in living memory and condemned the people of this country to penury for years to come the best option may appear to cover your ears, shut your eyes and sing na, na, na na, na rather than face up to what you have done. There seems to be two strands of thought within the comrades' party at the moment, the "moderate" wing think they should follow Alistair Darling's plan and try to halve the deficit within the next five years. This means we will still be living beyond our means, borrowing money and adding to our debt mountain for years to come. The other lot, epitomised by Ed and Mrs Balls, think that we should not worry about the debt or the deficit and continue to borrow as before. Either one is the economics of the spendaholic. At this time we are paying interest on our debt to the tune of £43billion per year, yes £43BILLION!
There have been enough lists of what this could be spent on but suffice to say we get NOTHING in return and this is not even paying off the debt. If we cannot pay anything off the debt we will be saddled with this payment for ever let alone increasing it.
The Labour Party is in hock to the unions, this is why they are defending public service jobs so vigorously. That is their job of course but the country has to be governed for the good of everyone and not for a special interest group.