Quote:
Originally Posted by OLD BOY
Well, you would say that, wouldn't you? But wait a minute, did you actually miss the most significant admission of Labour's ineptitude in this piece? Even the author had to admit:
One argument is that if the UK had run a balanced budget in the 2000s, public sector debt would have been lower and the UK would have had more room for manoeuvre in pursuing expansionary fiscal policy when the recession hit and we needed expansionary fiscal policy.
There is some credence to this, with a balanced budget and lower public sector debt to start with, governments may have felt greater confidence to borrow even more in the recession – when the UK economy needed expansionary fiscal policy.
Thank you for the confirmation of what I have been saying all this time.
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I chose this article because it was reasonably balanced and offered an objective opinion. Things that you seem to be incapable of understanding. All Governments can be criticised with the clarity of hindsight but the essence of this article is that the overwhelming cause of the 10 years of austerity was the 2008/9 financial crisis caused by the City and their free market greed. Furthermore, the people who caused this get bailed out by us, the tax payer, with no penalties and are now busy working a repeat of 2008/9.
Your inability to assign the blame at the door of those responsible speaks volumes ...