British Debt still spiralling out of control

[-:Undertaker:-]

http://www.cps.org.uk/

http://www.iaza.com/work/120107C/iaza13186193210200.bmp

http://www.telegraph.co.uk/comment/columnists/christopherbooker/8986379/Europe-cannot-save-the-euro-nor-save-itself-from-the-euro.html

We must not forget, however, that, when it comes to nations running up a debt out of control, our own Government is still having to borrow an additional £2.5 billion every week, just to fund its own overspending – which, despite all talk of “cuts”, still races upwards. Any moment now, our own national debt will top the £1 trillion mark, having more than doubled in six years. However damaging a disintegration of the euro may be to our economy in 2012, we also face a crisis we have brought upon ourselves – one for which our Government has no more of a real answer than do the impotent rulers of the eurozone.

You know, we stand back and pat ourselves on the back for staying out of the Euro amid the problems of the Eurozone (which was absolutely correct), but we're really in no matter shape debt wise despite the 'cuts', which don't exist, never existed and won't exist under any of the major political parties who believe in big government including those 'ideological Tories' who are as fiscally conservative as my left toe.

We don't have a flawed currency just like the Euro which is partially true, although then its backed by nothing just like all the other constantly devaluing currencies around the world when it ought to be backed by gold. But then, thats another problem which will eventually come to head (currency collapse).

Thoughts? do we need a government which will cut spending?

[The Don]

i'm confused...

Doesn't it say there was a £3,801,000,000 spending cut from last year? Or am I just being an idiot :P

[-:Undertaker:-]

i'm confused...

Doesn't it say there was a £3,801,000,000 spending cut from last year? Or am I just being an idiot :P

Baically the government is still spending more than it recieves in taxation and the government is increasing spending ahead of inflation (http://www.spectator.co.uk/coffeehouse/7122543/what-you-need-to-know-ahead-of-tomorrows-growth-figures.thtml). Where as if you believe what you hear on the BBC or in the newspapers, you'd believe our government was being drastically cut back with those dreaded 'cuts'. The same applies in the United States, both countries are spending more and more yet are claiming to be cutting public spending. And don't get me wrong, i'd love there to be cuts - if I could get my hands on government i'd decimate a large proportion of it.

..but its just not happening.

[dbgtz]

In all fairness a lot of the cuts won't really be seen until next year or so. People still recieve EMA so that's still a small chunk being taken, colleges are cutting 4% every year (for 2 years I think) so that won't be seen for a while. There are two other problems, one is that they have increased spending in some areas, which ultimately decreases the amount cut. Secondly is the fact that the debt has clearly got so huge, it would probably affect public trust if they were to drastically cut a huge percent from the budget. Really, they could easily cut in some areas but they see it as too important to cut and would rather cut directly on the public (NHS, social care etc) but it's like trying to scrape a whole sandwiches worth of jam out of the little bit left in the lid. So while I do not defend their decisions, it has to be seen that they are taken some form of action.

[-:Undertaker:-]

In all fairness a lot of the cuts won't really be seen until next year or so. People still recieve EMA so that's still a small chunk being taken, colleges are cutting 4% every year (for 2 years I think) so that won't be seen for a while. There are two other problems, one is that they have increased spending in some areas, which ultimately decreases the amount cut. Secondly is the fact that the debt has clearly got so huge, it would probably affect public trust if they were to drastically cut a huge percent from the budget. Really, they could easily cut in some areas but they see it as too important to cut and would rather cut directly on the public (NHS, social care etc) but it's like trying to scrape a whole sandwiches worth of jam out of the little bit left in the lid. So while I do not defend their decisions, it has to be seen that they are taken some form of action.

Why do people keep repeating this? its usually Tories who keep telling me 'just you wait' just as they did before the election in telling me that David Cameron was going to be a conservative PM but was just keeping it secret. EMA and other tiny things which have been removed (and usually replaced with another scheme, as with EMA) make only a tiny dint in the public finances regardless. The projected figures are in the article by Fraser Nelson that I posted to Don - after this government leaves office we will be spending more than ever before and we will be in much more debt. The figures speak for themselves even after the ridiculous 'emergency budget' - the 'cuts' that have been made are not really cuts, because spending is increasing even when you take 'the cuts' into account.

The debate over cuts is false, and i'm fed up of hearing it.