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ntluser · 13-11-2008, 15:57

I always find it amazing that governments always try to borrow their way out of a crisis.

Imagine the situation.You wake up one morning to find that you've lost your job, have Â£50,000 worth of debts and the country's in recession.For some people, sadly, this may be true.

Anyone in their right mind would surely be looking at ways to cut their unnecessary expenditure and maximise their income.

They would prioritise their debts and come up with a plan to pay off the debts gradually ensuring that high prority debts e.g. mortgage etc are paid first. In some cases you may negotiate a deal with your creditors.

Hopefully over a period of time you would get to a situation where you could live easily within your means.

The last thing you would do would be to incur more debt by borrowing.

Isn't this one of the reasons the country is in the mess it's in?

13-11-2008, 15:57	#277
ntluser Inactive Join Date: Jun 2003 Location: Manchester Age: 79 Services: Virgin Media XL Telephone,TV with Tivo box & Superhub3 upto 150Mb Broadband, Sky World, & Freeview+ Posts: 1,901	Re: Brown on the ropes? I always find it amazing that governments always try to borrow their way out of a crisis. Imagine the situation.You wake up one morning to find that you've lost your job, have Â£50,000 worth of debts and the country's in recession.For some people, sadly, this may be true. Anyone in their right mind would surely be looking at ways to cut their unnecessary expenditure and maximise their income. They would prioritise their debts and come up with a plan to pay off the debts gradually ensuring that high prority debts e.g. mortgage etc are paid first. In some cases you may negotiate a deal with your creditors. Hopefully over a period of time you would get to a situation where you could live easily within your means. The last thing you would do would be to incur more debt by borrowing. Isn't this one of the reasons the country is in the mess it's in?