Bye Bye AAA rating

[Mister M]

Laughable to read the weasel words of the the Forums Tories and Lib Dems now the triple A rating has been lost, this was their main reason used to justify the severity of the ConDems austerity measures. This has gone the debt is increasing and we heading for a record third recession. Well done Smarmy Dave, Gidiot and Lap-Dog, swapped triple A for triple dip!

 

In spite of the fact that Osborne and Cameron called for more deregualtion, and stick to pre election spending plans the coalition supporters do seem to have real difficulty in accepting that their government have been found wanting, and with regards to the announcemnt by Moodys have been hoist by their own petard.

[I1L2T3]

Yes but not to the point where they are have to do without the essentials of life, and I don’t think Osborne thinks we can get out of debt by taking on more debt, but he knows it’s necessary for now.t a valuable lesson and get used to living within their means.

 

To be fair he was always going to have to borrow but planned to gradually decrease borrowing year on year as deficit reduction plans started to work.

 

If growth had been as predicted by Osborne we would be taking on much less debt now.

 

If the deficit reduction plan was genuinely working we would be taking on less debt now.

 

Osborne's and the OBR's predictions were wildly wrong. As was Osbrone's theory that as the state was rolled back and state capital investment and infrastructure spending was also cut back, that the private sector would become a dynamic engine of growth.

 

None of the things Osborne predicted happened.

 

As for the essentials of life we have a housing crisis, increasing fuel poverty and increasing numbers of people visiting food banks. And if the welfare reduction plans continue things will get worse.

[MrSmith]

To be fair he was always going to have to borrow but planned to gradually decrease borrowing year on year as deficit reduction plans started to work.

 

If growth had been as predicted by Osborne we would be taking on much less debt now.

 

If the deficit reduction plan was genuinely working we would be taking on less debt now.

 

Osborne's and the OBR's predictions were wildly wrong. As was Osbrone's theory that as the state was rolled back and state capital investment and infrastructure spending was also cut back, that the private sector would become a dynamic engine of growth.

 

None of the things Osborne predicted happened.

 

As for the essentials of life we have a housing crisis, increasing fuel poverty and increasing numbers of people visiting food banks. And if the welfare reduction plans continue things will get worse.

 

It was never going to be as painless as the politicians claimed, politicians tend to say what people want to hear, because telling the truth is a sure fire way to lose support.

 

---------- Post added 23-02-2013 at 19:25 ----------

 

T

None of the things Osborne predicted happened.

 

As for the essentials of life we have a housing crisis, increasing fuel poverty and increasing numbers of people visiting food banks. And if the welfare reduction plans continue things will get worse.

 

I don't think you can blame this government for housing costs or fuel prices, and as for welfare, it’s time for the people that rely on it to cut their cloth accordingly.

[I1L2T3]

It was never going to be as painless as the politicians claimed, politicians tend to say what people want to hear, because telling the truth is a sure fire way to lose support.

 

I agree it was never going to be painless. Even Labour were planning to make significant and painful cuts but over a longer time.

 

As I mentioned earlier the benchmark is can the impact on the losers from this process be contained in a way that causes society not to become destabilised. IMO we're just about clinging on at the moment. The upcoming welfare cuts are going to be pretty devastating for some and I suspect they may be toned down.

 

---------- Post added 23-02-2013 at 19:31 ----------

 

I don't think you can blame this government for housing costs or fuel prices, and as for welfare, it’s time for the people that rely on it to cut their cloth accordingly.

 

But they are responsible for the response to rising prices.

[ricgem2002]

Yes but not to the point where they are have to do without the essentials of life, and I don’t think Osborne thinks we can get out of debt by taking on more debt, but he knows it’s necessary for now. what like borrowing against things he hoped would fetch in more money (4g licence money comes to mind)

 

---------- Post added 23-02-2013 at 17:19 ----------

 

 

 

The decline is the cure but I don't think it will be terminal, hopefully people will have learnt a valuable lesson and get used to living within their means.

what like mps you mean

[Lotusflower]

It was never going to be as painless as the politicians claimed, politicians tend to say what people want to hear, because telling the truth is a sure fire way to lose support.

 

---------- Post added 23-02-2013 at 19:25 ----------

 

 

I don't think you can blame this government for housing costs or fuel prices, and as for welfare, it’s time for the people that rely on it to cut their cloth accordingly.

 

Of course you can blame this government for spiralling housing costs and fuel prices.

 

The welfare system is there to protect those people within society who, through no fault of their own find themselves in difficulties.

Saying, "It's time for them to cut their cloth accordingly," is a statement I find quite shameful...although it is precisely the sentiment expected from a Tory supporter...perfectly in keeping with the caring party.

[MrSmith]

I agree it was never going to be painless. Even Labour were planning to make significant and painful cuts but over a longer time.

 

As I mentioned earlier the benchmark is can the impact on the losers from this process be contained in a way that causes society not to become destabilised. IMO we're just about clinging on at the moment. The upcoming welfare cuts are going to be pretty devastating for some and I suspect they may be toned down.

The cuts haven't been severe enough, which is why the rating has been downgraded. The UK debts are too high both private and public and would be even higher if labour still had control.

 

 

But they are responsible for the response to rising prices.

 

Sorry lost me with that.

 

---------- Post added 23-02-2013 at 19:45 ----------

 

Of course you can blame this government for spiralling housing costs and fuel prices.

 

 

Please explain how this government is responsible for the massive uncontrolled housing bubble which caused housing to be over priced.

 

---------- Post added 23-02-2013 at 19:49 ----------

 

The welfare system is there to protect those people within society who, through no fault of their own find themselves in difficulties.

Saying, "It's time for them to cut their cloth accordingly," is a statement I find quite shameful...although it is precisely the sentiment expected from a Tory supporter...perfectly in keeping with the caring party.

 

I agree, sadly it has become a life style choice and in many cases pays better than working.

 

Benefits claimants should not be better off than workers but should be given enough to keep them going until they find work.

[Lotusflower]

The cuts haven't been severe enough, which is why the rating has been downgraded. The UK debts are too high both private and public and would be even higher if labour still had control.

 

 

 

Sorry lost me with that.

 

---------- Post added 23-02-2013 at 19:45 ----------

 

 

Please explain how this government is responsible for the massive uncontrolled housing bubble which caused housing to be over priced.

 

---------- Post added 23-02-2013 at 19:49 ----------

 

 

I agree, sadly it has become a life style choice and in many cases pays better than working.

 

Benefits claimants should not be better off than workers but should be given enough to keep them going until they find work.

 

Before you start with the contortions of the English language you have favoured in other threads I respectfully suggest you read what you replied to Mr Smith. You do not agree.

[I1L2T3]

The cuts haven't been severe enough, which is why the rating has been downgraded. The UK debts are too high both private and public and would be even higher if labour still had control.

 

 

The downgrade is related to government debt.

 

Personal debt is too high as well of course. It's a major factor dragging back the economy. If people didn't have so much debt to service or pay down they could be spending that money in the wider economy.

 

 

Sorry lost me with that.

 

 

If wages are not growing or benefits are frozen (at 1% remember) in an inflationary environment then the social impact would require a response from government. It could uprate benefits, increase public sector pay, introduce controls on fuel prices through regulatory moves etc...

[WeX]

So what are Canada, and more importantly Germany doing that we aren't ? I thought they were doing the whole austerity thing too ? Are they just doing it from a better starting point than us ? All that money they are giving Greece must be coming from somewhere.

 

Nothing it would seem. Canada didn't follow the USA's spend your way out of recession lead, that failed so quickly they switched to austerity and Germany is just a few months behind the UK's position.

 

---------- Post added 23-02-2013 at 21:18 ----------

 

It's quite sad to watch your enjoyment of this.

 

people like that want nothing more than the country to fail, just so they can pat themselves on the back and say "I told ya so". They dont care it would damage so many peoples lives or our countries position in the world, just as long as they can feel good about themselves.