Guest 745- Registered: 27 Mar 2012
- Posts: 3,370
#1
The governments is still borrowing billions every month
My question is what happens if nobody lends to us any more??
Could this happen
Will we end up like the Greeks? What cut will happen will tax go up
Guest 649- Registered: 12 Mar 2008
- Posts: 14,118
#2
We are still one of the main players.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
#3
i do sometimes wonder when the money will run out, most western economies if you will excuse the term "are on the ear 'ole".
Guest 745- Registered: 27 Mar 2012
- Posts: 3,370
#4
It just seem possible to keep loading the credit cared
Why would somebody keep lending to a basket case economy like the uk
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
#5
I have said it many times. The government has not been cutting public spending deeply or quick enough. As long as there is a deficit borrowing goes up.
This demonstrates the depth of the problem and just how irresponsible the Blair/Brown government was in letting rip with spending. Totally insane.
Guest 745- Registered: 27 Mar 2012
- Posts: 3,370
#6
But if they cut Barry to the extent you require, will the debt ever be paid of ?
And the UK not descend in to the state of the Greeks
All governments have borrowed to excess Barry
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
#7
Keith - if you are spending too much on your credit card then the only way to stop the problem is to cut your spending. Only when you get the current account in surplus can you repay debt.
The answer is yes but the political will is needed.
Keith - I do not entirely disagree that all governments borrow to excess. There is a weakness in our political system that encourages politicians to try to buy votes, some are worse than others though.
We need a new constitutional settlement by which public spending is limited to and average of 30% of GDP over an economic cycle to get a good balance with a competitive and sustainable economy. For your information, it reached 53% under Brown and that made the economy as unstable as a upside down pyramid.
Guest 693- Registered: 12 Nov 2009
- Posts: 1,266
#8
For once, I couldn't agree more with Barry's political take on this. Madness from the previous Labour administration has forced the current lot into some really unpleasant cuts, but it wasn't just this country, or the EU, or Asia - it was the whole world that forgot that borrowed money has to be repaid. Sometime the inevitable will catch up with you, whether on a personal, business or national level; ask anyone who's been in debt and they will tell you that the day of reckoning always comes, no matter how long or how often you put it off.
You cannot borrow your way out of debt. End of.
True friends stab you in the front.