UK deficit figures dent George Osborne's economic plan
http://www.theguardian.com/business/2015/nov/20/worst-uk-deficit-figures-six-years-george-osborne
We've had cuts to pay in real terms for many frontline public workers.
We've had frontline public worker job redundancies.
We've had benefit caps and benefit cuts.
We've had cuts to the military.
We've had a slight real terms cut to the NHS.
We've seen cuts to social care.
We've seen cuts to mental health provision.
We've had Legal Aid cuts.
You'd think they'd be a bit more on target by now. |
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VAT increases too, which disproportionately tax the lower paid. Results in even less remaining cash to be spent on anything else.
Deficit reduction is just another distraction and possibly the worst way to get growth in the economy.
Still Osborne's previous job as a towel folder didn't really give him much relevant experience. |
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By (user no longer on site)
over a year ago
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"The amount of billionaires has doubled in the UK, so i heard. The top 1% are even richer, collectively. So austerity cuts are working for some.
How do we get the good kind?  "
Lose your empathy for others. I hear they're a burden on your finances. |
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Deficit reduction (or paying off debt) is good for micro-economics (such as a household or business) but hasn't ever been proved to work for macro-economics such as a country. Even the USA post 29 crash depression set out on a spend spend spend policy.
Doesn't seem to be working now either. It has, of course, the added benefit for tories of keeping poor people even poorer. |
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By *anB451Man
over a year ago
Reading |
"UK deficit figures dent George Osborne's economic plan
http://www.theguardian.com/business/2015/nov/20/worst-uk-deficit-figures-six-years-george-osborne
We've had cuts to pay in real terms for many frontline public workers.
We've had frontline public worker job redundancies.
We've had benefit caps and benefit cuts.
We've had cuts to the military.
We've had a slight real terms cut to the NHS.
We've seen cuts to social care.
We've seen cuts to mental health provision.
We've had Legal Aid cuts.
You'd think they'd be a bit more on target by now."
Show's how much s**t we were in to begin with! |
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By (user no longer on site)
over a year ago
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"The amount of billionaires has doubled in the UK, so i heard.
Interesting! What was the source of this?"
oxfam. might be globally actually, heard it last year. |
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By (user no longer on site)
over a year ago
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"The amount of billionaires has doubled in the UK, so i heard.
Interesting! What was the source of this?
oxfam. might be globally actually, heard it last year."
Thanks, I hadn't seen that before. The doubling was a global average but actually the UK wasn't far off the average with 25 (dollar) billionaires in 2009 vrs 47 today. (according to the research). We could debate causation and correlation but the figure is what is it, thanks for mentioning it. |
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By (user no longer on site)
over a year ago
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"Deficit reduction (or paying off debt) is good for micro-economics (such as a household or business) but hasn't ever been proved to work for macro-economics such as a country. Even the USA post 29 crash depression set out on a spend spend spend policy.
Doesn't seem to be working now either. It has, of course, the added benefit for tories of keeping poor people even poorer. "
Without meaning to split hairs, economics is far from a science so very little is really 'proven' about what works and doesn't. Especially at a macro level.
Personally I find most economist somewhere beyond ridiculous (left wing or right) but that's another thread. |
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By (user no longer on site)
over a year ago
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"The amount of billionaires has doubled in the UK, so i heard.
Interesting! What was the source of this?
oxfam. might be globally actually, heard it last year.
Thanks, I hadn't seen that before. The doubling was a global average but actually the UK wasn't far off the average with 25 (dollar) billionaires in 2009 vrs 47 today. (according to the research). We could debate causation and correlation but the figure is what is it, thanks for mentioning it. "
no problem. |
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"Deficit reduction (or paying off debt) is good for micro-economics (such as a household or business) but hasn't ever been proved to work for macro-economics such as a country. Even the USA post 29 crash depression set out on a spend spend spend policy.
Doesn't seem to be working now either. It has, of course, the added benefit for tories of keeping poor people even poorer.
Without meaning to split hairs, economics is far from a science so very little is really 'proven' about what works and doesn't. Especially at a macro level.
Personally I find most economist somewhere beyond ridiculous (left wing or right) but that's another thread."
We have had cycles of economic boom and bust in a recognisable form since 1929. Time enough, I think, to see what works and what doesn't. It can't be an exact science but some reasonable assumptions can be made from which records can show whether or not that worked before. Cutting public spending too quickly and too deeply won't generate the tax incomes necessary to maintain and build the economy. It's an unbalanced approach. |
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"UK deficit figures dent George Osborne's economic plan
http://www.theguardian.com/business/2015/nov/20/worst-uk-deficit-figures-six-years-george-osborne
We've had cuts to pay in real terms for many frontline public workers.
We've had frontline public worker job redundancies.
We've had benefit caps and benefit cuts.
We've had cuts to the military.
We've had a slight real terms cut to the NHS.
We've seen cuts to social care.
We've seen cuts to mental health provision.
We've had Legal Aid cuts.
You'd think they'd be a bit more on target by now."
. He has done a great job of managing the economy in difficult circumstances . New car sales are at an all time high . This is hardly a sign of a mis managed economy . The stock market has also put in a very good performance over the last five years . It is a pity that he did not cut the legal aid budget to nil..
Well done to the Chancellor for doing such a great job.
The government will also be making a profit on the Northern Rock bail out so another taask successfully completed . |
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By (user no longer on site)
over a year ago
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"Deficit reduction (or paying off debt) is good for micro-economics (such as a household or business) but hasn't ever been proved to work for macro-economics such as a country. Even the USA post 29 crash depression set out on a spend spend spend policy.
Doesn't seem to be working now either. It has, of course, the added benefit for tories of keeping poor people even poorer.
Without meaning to split hairs, economics is far from a science so very little is really 'proven' about what works and doesn't. Especially at a macro level.
Personally I find most economist somewhere beyond ridiculous (left wing or right) but that's another thread.
We have had cycles of economic boom and bust in a recognisable form since 1929. Time enough, I think, to see what works and what doesn't. It can't be an exact science but some reasonable assumptions can be made from which records can show whether or not that worked before. Cutting public spending too quickly and too deeply won't generate the tax incomes necessary to maintain and build the economy. It's an unbalanced approach. "
There are tens of thousands of economists employed worldwide, quite what they do all day I'm not sure but they are employed and there are over 15,000 in the USA alone. If our hypothesis is that there's a semi-predictable cycle then I'd like to know why I can count on my hands the number of economists that saw the crash coming and why we were so badly prepared for it...
I'm not suggesting that it's your place to explain that but I can't give much credibility to a discipline that failed to predict the biggest economic event most of them would live through. |
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"Deficit reduction (or paying off debt) is good for micro-economics (such as a household or business) but hasn't ever been proved to work for macro-economics such as a country. Even the USA post 29 crash depression set out on a spend spend spend policy.
Doesn't seem to be working now either. It has, of course, the added benefit for tories of keeping poor people even poorer.
Without meaning to split hairs, economics is far from a science so very little is really 'proven' about what works and doesn't. Especially at a macro level.
Personally I find most economist somewhere beyond ridiculous (left wing or right) but that's another thread.
We have had cycles of economic boom and bust in a recognisable form since 1929. Time enough, I think, to see what works and what doesn't. It can't be an exact science but some reasonable assumptions can be made from which records can show whether or not that worked before. Cutting public spending too quickly and too deeply won't generate the tax incomes necessary to maintain and build the economy. It's an unbalanced approach.
There are tens of thousands of economists employed worldwide, quite what they do all day I'm not sure but they are employed and there are over 15,000 in the USA alone. If our hypothesis is that there's a semi-predictable cycle then I'd like to know why I can count on my hands the number of economists that saw the crash coming and why we were so badly prepared for it...
I'm not suggesting that it's your place to explain that but I can't give much credibility to a discipline that failed to predict the biggest economic event most of them would live through. "
Maybe they were wanking instead of working. |
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By (user no longer on site)
over a year ago
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"Deficit reduction (or paying off debt) is good for micro-economics (such as a household or business) but hasn't ever been proved to work for macro-economics such as a country. Even the USA post 29 crash depression set out on a spend spend spend policy.
Doesn't seem to be working now either. It has, of course, the added benefit for tories of keeping poor people even poorer.
Without meaning to split hairs, economics is far from a science so very little is really 'proven' about what works and doesn't. Especially at a macro level.
Personally I find most economist somewhere beyond ridiculous (left wing or right) but that's another thread.
We have had cycles of economic boom and bust in a recognisable form since 1929. Time enough, I think, to see what works and what doesn't. It can't be an exact science but some reasonable assumptions can be made from which records can show whether or not that worked before. Cutting public spending too quickly and too deeply won't generate the tax incomes necessary to maintain and build the economy. It's an unbalanced approach.
There are tens of thousands of economists employed worldwide, quite what they do all day I'm not sure but they are employed and there are over 15,000 in the USA alone. If our hypothesis is that there's a semi-predictable cycle then I'd like to know why I can count on my hands the number of economists that saw the crash coming and why we were so badly prepared for it...
I'm not suggesting that it's your place to explain that but I can't give much credibility to a discipline that failed to predict the biggest economic event most of them would live through.
Maybe they were wanking instead of working. "
Now that's a plausible hypothesis  |
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