Vague_Boy Posted November 25, 2015 Share Posted November 25, 2015 That debt was inherited from past, it didn't happen all of a sudden like. Well he's doubled the national debt since 2010. [LINK] Shock deficit figures this month: U.K. Has Worst October Deficit Since 2009 in Blow to Osborne As I keep saying: THERE HAS BEEN NO AUSTERITY. Not the kind that is actually needed to halt the slide into ever increasing debt. That would be unpopular. Really unpopular. But then again, what happened in Greece was unpopular. If only someone could have done something about that in time. If only. Link to comment Share on other sites More sharing options...
betterman Posted November 25, 2015 Share Posted November 25, 2015 I'm not confusing borrowing with debt. You are though it seems. Even if borrowing is decreased the debt will rise. Even when there is no borrowing debt will rise if payments are less than the interest on the debt. Even though Osborne has reduced the deficit he still missed his targets. He still doubled the debt when he never planned to. The thing about the debt being caused by Labour spending is a tired old argument for people who wilfully ignore the facts. This of course leads on to a reiteration of the fact that Osborne has doubled the debt. We are servicing interest on a pile of debt he created by spending too much. Your a debt-doubling denier. In 2005 National debt was 0.45 trillion, it doubled to 0.9 trillion by 2010. It now stands at 1.5 trilion, so it asn't douple since the concervatives formed a government. Link to comment Share on other sites More sharing options...
I1L2T3 Posted November 25, 2015 Share Posted November 25, 2015 In 2005 National debt was 0.45 trillion, it doubled to 0.9 trillion by 2010. It now stands at 1.5 trilion, so it asn't douple since the concervatives formed a government. Your figures are incorrect. Where did you get them? One house point for effort though Link to comment Share on other sites More sharing options...
poppet2 Posted November 26, 2015 Author Share Posted November 26, 2015 Where has he got the money to give away so Much? Has he suddenly dealt with the deficit? No, so more borrowing, which means more debt. Link to comment Share on other sites More sharing options...
I1L2T3 Posted November 26, 2015 Share Posted November 26, 2015 Where has he got the money to give away so Much? Has he suddenly dealt with the deficit? No, so more borrowing, which means more debt. Better than expected public finances. He had a choice here. Use all the additional funds to further clear down the deficit or spend some of the funds knowing that the economy is already growing and the net result (of there being more money in peoples' pockets than if he'd cut) would ultimately be similar, as people spend on goods and services etc... There is also a chance that housing costs will reduce due to his BTL measures & housebuilding programme giving people even more money in their pockets. I detest the guy but he's done the right thing this time and learned from 5 years ago. The fact he is now more willing to learn from mistakes is a good thing really. Link to comment Share on other sites More sharing options...
Eric Arthur Posted November 26, 2015 Share Posted November 26, 2015 Where has he got the money to give away so Much? Has he suddenly dealt with the deficit? No, so more borrowing, which means more debt. Low tax rates result in higher tax revenues, like now. Higher tax rates result in lower tax revenues, like the 70's. Link to comment Share on other sites More sharing options...
betterman Posted November 26, 2015 Share Posted November 26, 2015 (edited) Your figures are incorrect. Where did you get them? One house point for effort though Public sector net debt. £ billion 2004/05 -------- 449.2 2009/10 -------- 959.8 2014/15 -------- 1,486.5 Coppied and pasted from HOUSE of COMMONS LIBRARY BRIEFING PAPER Number 05745, 3 November 2015 Government borrowing, debt and debt interest: historical statistics and forecasts. Edited November 26, 2015 by betterman Link to comment Share on other sites More sharing options...
exxon Posted November 26, 2015 Share Posted November 26, 2015 Where has he got the money to give away so Much? Has he suddenly dealt with the deficit? No, so more borrowing, which means more debt. I heard it was because Gordon Brown had spent so much time tipping money down the toilet it had blocked the Downing Street drains. When the plumber finally got round to rodding it out they found £27 billion that just needed a bit of rinsing through. Link to comment Share on other sites More sharing options...
unbeliever Posted November 26, 2015 Share Posted November 26, 2015 It really takes some nerve for the anti-tory socialist types to complain about the state debt. This is all ultimately socialists/social democrat debt and arises from modern neo-keynesian voodoo economics that they don't really believe but say anyway to get elected. The tories can't lower spending as a fraction of GDP gradually and immediately eliminate the deficit at the same time. That's so obvious it's madness that we keep having to repeat it. Not to mention the fact that the anti-tory crowd have been arguing for yet more spending over this period; thereby firmly and loudly holding two completely contradictory positions at the same time. Cognitive dissonance much? Now let's get on to the constant bouncing back and forth between expressing figures in cash, inflation corrected, gdp deflator corrected and percentage of GDP terms; according to convenience in the hope of tricking us. Pick one "real terms" measure for money. Admit the massive socialist/social democrat errors. Learn from the disaster than was the Gordon Brown government. Maybe then the moderates will start taking you seriously again. Or don't bother. Nobody will take you seriously. Moderate capitalists will be in government for decades and I'll be happy. Link to comment Share on other sites More sharing options...
I1L2T3 Posted November 26, 2015 Share Posted November 26, 2015 Public sector net debt. £ billion 2004/05 -------- 449.2 2009/10 -------- 959.8 2014/15 -------- 1,486.5 Coppied and pasted from HOUSE of COMMONS LIBRARY BRIEFING PAPER Number 05745, 3 November 2015 Government borrowing, debt and debt interest: historical statistics and forecasts. Link please ---------- Post added 26-11-2015 at 19:02 ---------- It really takes some nerve for the anti-tory socialist types to complain about the state debt. This is all ultimately socialists/social democrat debt and arises from modern neo-keynesian voodoo economics that they don't really believe but say anyway to get elected. The tories can't lower spending as a fraction of GDP gradually and immediately eliminate the deficit at the same time. That's so obvious it's madness that we keep having to repeat it. Not to mention the fact that the anti-tory crowd have been arguing for yet more spending over this period; thereby firmly and loudly holding two completely contradictory positions at the same time. Cognitive dissonance much? Now let's get on to the constant bouncing back and forth between expressing figures in cash, inflation corrected, gdp deflator corrected and percentage of GDP terms; according to convenience in the hope of tricking us. Pick one "real terms" measure for money. Admit the massive socialist/social democrat errors. Learn from the disaster than was the Gordon Brown government. Maybe then the moderates will start taking you seriously again. Or don't bother. Nobody will take you seriously. Moderate capitalists will be in government for decades and I'll be happy. Get real. Osborne has doubled the debt. Or are you saying he's one of the socialists/social democrats? He is responsible for the debt he created but at least he's learning Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now