Quote:
Originally Posted by Hugh
Nobody "wants it back" to any level - we just need to get our deficit down, and pay off our country's excessive debts, otherwise we will get charged higher interest on those debts, and they will continue to grow, putting them on future generations.
That wouldn't be fair, imho.
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I think you need to re-read the what the numbers are and the proposed objectives of the austerity measures.
It is my understanding that the proposed objectives are simply to try to bring into balance the structural deficit which is the amount the government receives and spends. They have given themselves 4 or 5 years to get that spending under control and some influential financial bodies think they are going to be woefully short.
The measures do nothing to address either the interest paid or the almost a trillion pounds debt owed so the debt and crippling interest payments roll on until the government can balance the books on an annual basis.
The coalition has used IMHO scaremongering to hopefully frighten the population into allowing idealogical changes for what are in fact trifling amounts in the grand scheme of things and it looks as though they are succeeding. UK plc just like other fiat money western countries always operates in a sea of red ink and the current adjustments are simply an attempt to keep the bailiffs away from the door. Whether we were in that much trouble or not is debatable.
What is proposed does little or nothing for the legacy of debt unless it all goes horribly wrong. The current Westminster incumbents are fixated on their objectives and like young men in a hurry they look as though they will charge on come what may. I sincerely hope that there isn't a big deep hole en route to their objectives.