Quote:
Originally Posted by Chrysalis
I consider the dismantling of things like social services, welfare state, public services as more damaging than a bad credit rating and deficit. I think the average person on the street couldnt give a crap about the countries credit rating, thats just how it is. However people involved with finances and I think generally wealthier people consider things like the deficit and credit rating as extremely important issues.
Labour did bad things but they also did some good things which we would never has seen from a tory government such as the min wage and propping up poor areas with public sector work (I now consider this a good thing now as I learned my city will have over half of population unemployed without it).
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Nobody wants cuts in important services but these things have to be paid for. Our credit rating is what determines how much our borrowing costs and therefore how much we have to spend on services as opposed to interest repayments. The fact that many people out there can't/won't accept that explains why Bliar and Brown stayed in power so long.
Yes, Labour did some good things but then when you consider the vast amounts of money they spent doing it that really wasn't difficult was it? Getting value for that money is quite another thing, however, and they clearly fell very well short in that aspect of their financial management of the economy. Give me a blank cheque book for the purpose and the knowledge that I won't have to cough up and I'll do some good things. I dare say those I dole the money out to will love me for it and won't be too worried about where it's all coming from. Hmmm.... I could buy votes like that couldn't I?...
It's all very well having worthy ideals but IMHO a government isn't worthy of the name unless it creates the economic conditions capable of funding those ideals. New Labour didn't do that, they robbed, borrowed and spent without a care for how it was all going to be paid for. They bought power and now we're all paying the price - that's the real world, that the true new Labour legacy.