[Ignitionnet]

It is indeed a complete mess up.

What they should be doing, of course, is cutting public sector harder and more broadly, reducing rather than increasing taxation and allowing both public and private debt to be deleveraged simultaneously.

Sadly of course the nation is so public sector horny now that we refuse to entertain funding cuts to some things and the Lib Dems and Dave's pretend Tories are so busy trying to be 'progressive' that they're basically doing a Labour-lite.

The cuts were not too deep nor too quick, and it's interesting that for all this concern over cuts I don't remember there being much concern when the expansion in the public sector that they don't really roll back very far was being done. Quite the opposite as I remember all political parties and many people thought it was great.

Feel the pain mertle. For me personally I'm simply lowering my standard of living appropriately to ensure that I do not incur additional debt, indeed I'm actually paying debt off.

The worst part about it is, to be honest, that it will further pressure interest rates to remain unnaturally low, holding inflation higher.