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Originally Posted by Chris
In spite of austerity? What austerity? The country's still living way beyond its means and the national debt is still soaring.
The great big laugh here is that Ed Balls is tub-thumping over this and demanding action, when Moody has stated that it is downgrading the UK *for not dealing with the deficit quickly enough* . Moody thinks the chancellor should have done more, and should have done it more quickly. Funnily enough I could have sworn Ed Balls has spent the last two years demanding less, and more slowly.
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Agreed
We could do austerity like Greece or Italy .People think it's bad in this country when a few state freebies are cut or brought under control .The present government have and are continuing to minimize the effect on the population as a whole because in my opinion we have had no real austerity measures compared to other countries
---------- Post added at 18:49 ---------- Previous post was at 18:43 ----------
Quote:
Originally Posted by danielf
Actually, unless I'm mistaken, the reason is the poor outlook in terms of economic growth, and that prospect isn't helped by cutting too hard.
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and knowing that we are going to have to borrow an ever increasing amount increasing the deficit.Not cutting deep enough will have still meant we would lose the AAA rating but it would mean we could not regain it as quickly helping any recovery along