Quote:
Originally Posted by heero_yuy
The alternative to austerity (cuts) is more/higher taxes and/or more borrowing.  Both are likely to be troublesome to sections of the electorate. Borrowing is mortgaging your children's future whilst I'm sure you'd welcome higher taxes so long as you're not the one who has to pay them. |
Entirely in favour of reducing current spending, however a nice big capital expenditure programme to offset decades of underinvestment while interest rates are ridiculous would be a great idea.
Borrowing on most current expenditure is mortgaging the future, borrowing for capital expenditure to improve productivity is investment in the future.